Daily News

View All News

Consumer confidence highest in eight months

May 26, 2009

The Conference Board's consumer confidence index reached its highest level in eight months in May, the organization reported today. The index now stands at 54.9 (1985=100), up from 40.8 in April.

"Looking ahead, consumers are considerably less pessimistic than they were earlier this year, and expectations are that business conditions, the labor market and incomes will improve in the coming months," said Lynn Franco, director of The Conference Board consumer research center. "While confidence is still weak by historical standards, as far as consumers are concerned, the worst is now behind us."

The index is based on a survey of 5,000 U.S. households.