May 28th, 2025
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Consumer confidence in the US went up in May, according to the Conference Board, after five months of going down. The index rose by 12.3 points to 98, from 85.7 in April, which was the lowest point since the pandemic started. This increase seems to be mostly because worries about how President Trump's tariffs would affect the economy have become a bit less. However, people's short-term expectations for their income, business, and job market stayed below 80, which could mean a recession is coming. The Labor Department reported that 177,000 jobs were added in April, which helped confidence, but concerns about tariffs and rising prices were still strong in the survey. Despite these worries, people planned to spend more on homes, cars, and holidays.
May 28th, 2025
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