May 28th, 2025
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Consumer confidence in the US went up in May, as reported by the Conference Board, after five months of decline. The index increased by 12.3 points to 98, from 85.7 in April, which was the lowest level since the pandemic started. This seems to be mainly because worries about the economic impact of President Trump's tariffs have slightly decreased. However, short-term expectations for income, business conditions, and the job market stayed below 80, which could mean a recession is approaching. The Labor Department announced that 177,000 jobs were created in April, helping to increase confidence, but concerns about tariffs and inflation still strongly influenced the survey responses. Despite these worries, people indicated they planned to spend more on homes, cars, and vacations.
May 28th, 2025
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