Consumer confidence surged to a five-year high in May, fueled by increased optimism about an improving job market.
CNN this morning..."One of the reports powering the markets showed that
U.S. home prices posted their strongest gains since 2007. According to
the S&P/Case-Shiller national index, prices rose 10.2% in the first
quarter. In another report, consumer confidence surged to a
five-year high in May, fueled by increased optimism about an improving
job market..."The Consumer Confidence Index, which gauges how consumers feel about
the economy each month, rose to 76.2 in May -- its highest reading since
February 2008, according to research firm The Conference Board.
It's up significantly from last month's reading of 69, and is also
higher than the 72.5 predicted by economists surveyed by Briefing.com. Consumer confidence has been on the rise for the past two months after plummeting in March when Americans worried about the effects of automatic government budget cuts.
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