Updated: 30-May-23 10:25 ET

May Consumer Confidence

Updated: 30-May-23 10:25 ET

Highlights

• The Conference Board's Consumer Confidence Index dipped to 102.3 in May (Briefing.com consensus 99.5) from an upwardly revised 103.7 (from 101.3) in April.
• In the same period a year ago, the index stood at 103.2.

Key Factors

• The Present Situation Index fell to 148.6 from 151.8.
• The Expectations Index slipped to 71.5 from 71.7. Out of the last 15 months, that is the 14th reading below 80.0, which is the level associated with a recession within the next year.
• Consumers expected inflation to average 6.1% over the next 12 months versus 6.2% in April.

Big Picture

• The key takeaway from the report is that expectations remain "gloomy," which incorporates a notable worsening in the outlook in May among consumers over 55 years of age.

Category	MAY	APR	MAR	FEB	JAN
Conference Board	102.3	103.7	104.0	103.4	106.0
Expectations	71.5	71.7	74.0	70.4	76.0
Present Situation	148.6	151.8	148.9	153.0	151.1
Employment ('plentiful' less 'hard to get')	31.0	36.9	36.5	40.7	37.0
1 yr inflation expectations	6.1%	6.2%	6.3%	6.2%	6.7%