May 28th, 2025
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Consumer confidence in the US got better in May, according to the Conference Board. This was after five months of falling confidence. The index increased by 12.3 points to 98, which is higher than 85.7 in April. April was the lowest level since the pandemic started. This improvement seems to be mostly because people are less worried about how President Trump's tariffs will affect the economy. However, people's short-term expectations for their income, businesses, and jobs stayed below 80. This might mean a recession is coming soon. The Labor Department reported that 177,000 jobs were added 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 said they planned to spend more on homes, cars, and holidays.
May 28th, 2025
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