Expert Commentary

Recent US Consumer Confidence readings explained by Lynn Franco
Tue, 29 May 2018 15:35:02 GMT
Source: Dukascopy Bank SA
 

US Consumer Confidence hits a 17-year high in May, with a help of downwardly revised April's reading. The index accounts for about 70% of all US economy, so it is being closely watched by economists.

"Consumer confidence increased in May after a modest decline in April," Lynn Franco, director of Economic Indicators at The Conference Board, said.

"Consumers' short-term expectations improved modestly, suggesting that the pace of growth over the coming months is not likely to gain any significant momentum," she added.

"Overall, confidence levels remain at historically strong levels and should continue to support solid consumer spending in the near-term," Franco concluded.


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