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Consumer Confidence in U.S. Climbs to Highest in Five Years



Play Consumer Confidence Jumps to Five-Year High at 76.2 Confidence among U.S. consumers climbed in May to the highest level in more than five years as views on the economy and labor market improved. The Conference Board’s index rose to 76.2, the strongest since February 2008 and exceeding the highest estimate in a Bloomberg survey of economists, from a revised 69 in April, data from the New York-based private research group showed today. The median forecast called for an increase to 71.2.



The gain in sentiment coincides with rising property values and stocks that are providing a boost for household balance sheets at the same time the job market heals. Further improvement in Americans’ outlooks may encourage a pickup in consumer spending , which accounts for about 70 percent of the economy. “An improvement in housing has far-reaching positives,” said Ryan Sweet , senior economist at Moody’s Analytics Inc. in West Chester , Pennsylvania . “When home prices are rising, homeowners feel a little more comfortable with their financial situation and they go out and start spending a little more aggressively.” Stocks extended gains after the figures, with the Standard & Poor’s 500 Index climbing 1.4 percent to 1,673.28 at 10:34 a.m. in New York . Treasuries fell, pushing up the yield on the benchmark 10-year note to 2.10 percent from 2 percent late on May 24. Today’s report showed 40 percent of those surveyed expected stocks to increase in the coming year, the biggest share since May 2007. Forecasts (CONCCONF) of the 75 economists surveyed by Bloomberg ranged from 65 to 76 after a previously reported 68.1 in April. The measure averaged 53.7 in the recession that ended in June 2009. Present Conditions The Conference Board’s gauge of consumer present conditions advanced to 66.7 in May, the highest […]


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  • EUR/USD Gold CorrelationConsumer Confidence in U.S. Climbs to Highest in Five Years
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  • Consumer Confidence in U.S. Climbs to Highest in Five Years
  • Consumer Confidence in U.S. Climbs to Highest in Five Years
  • Consumer Confidence in U.S. Climbs to Highest in Five Years
  • Consumer Confidence in U.S. Climbs to Highest in Five Years
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