Updated: 30-May-23 10:25 ET
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Updated: 30-May-23 10:25 ET |
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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% |