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Discover Says U.S. Consumer Confidence Ticked Higher In May

In yet another sign the U.S. economy might be thawing out a bit, consumers told Discover Financial Services in May that they were a bit more confident about the economy and would spend a little more money.

By David Morrison | Updated on June 07, 2009

In yet another sign the U.S. economy might be thawing out a bit, consumers told Discover Financial Services in May that they were a bit more confident about the economy and would spend a little more money.

The number of consumers expecting to spend more in the month ahead rose to 20%. This rise coincided with an increase in the number of consumers expecting to spend more on household expenses like gas and groceries, the card issuer said. For May, 30% of consumers expected to spend more on household expenses, a five-point increase from April as gas prices reached their highest levels of the year. However, the five-point increase is still less than half of what was reported in May 2008.

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