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 going down. The index rose by 12.3 points to 98, from 85.7 in April, which was the lowest point since the pandemic began. This seems mainly because worries about the economic effects of President Trump's tariffs have become a bit less severe. However, the short-term outlook for income, business, and jobs stayed below 80, which might mean a recession is coming soon. The Labor Department announced that 177,000 jobs were created in April, which helped make people more confident, but worries about tariffs and rising prices were still the main concerns in the survey. Despite these worries, people indicated they planned to spend more on houses, cars, and holidays.
May 28th, 2025
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