Consumers Continue to be Confident
The Consumer Confidence Index was 63.3 this month, up from 57.9 in April, the Conference Board reported today. It's the third consecutive monthly increase and the highest level since September 2008.
The New York City-based research organization's survey of 5,000 families also indicated that the Present Situation Index, which measures consumer assessment of current conditions, rose to 30.2, from 28.2 in April. The Expectations Index was 85.3, compared with 77.4 last month.
In the latest survey, the percentage of consumers describing business conditions as "good" increased to 10% from 8.9% in April, while those saying conditions are "bad" decreased to 39.3 % from 40% last month.
The percentage of those who said jobs are "hard to get" fell to 43.6% from 44.8% in April. Those saying jobs are plentiful remained at 4.6%.