Americans� views of the economy improved in May after five straight months of declines sent consumer confidence to the lowest level since the onset of the COVID-19 pandemic, largely driven by anxiety over the impact of President Donald Trump�s tariffs.
The Conference Board said Tuesday that its consumer confidence index rose 12.3 points in May to 98, up from April�s 85.7, its lowest reading since May 2020.
A measure of Americans� short-term expectations for their income, business conditions and the job market jumped 17.4 points to 72.8, but remained below 80, which can signal a recession ahead.
The proportion of consumers surveyed saying they think a U.S. recession is coming in the next 12 months also declined from April.
(AP)