Whatever alarm bells are sounding about the U.S. economy, and whatever misgivings Americans have about the leaders' ability to steward it properly, they still have faith that things are, and will continue to be okay.
Information released Tuesday by the U.S. Conference Board shows consumer confidence rose by more than expected to the highest level since November as Americans felt the best about current economic conditions in 18 years, pointing up the effects of a robust labour market and rising wages.
The Board’s index climbed to 134.1 in May, according to data from the New York-based group Tuesday that topped economist estimates. The gauge of views on the present situation increased to 175.2, the highest since December 2000, while the expectations index rose to a six-month high of 106.6.
The report is in line with other indicators showing elevated consumer confidence and follows data indicating the economy expanded by a more-than-expected 3.2% in the first quarter. The University of Michigan’s sentiment index also jumped to a 15-year high in May, driven by views on the buying climate.
