Consumer confidence jumped 7.2 points in May from a revised April reading of 69.0. According to the Conference Board’s report, issued this morning (5/28/2013):
The Index now stands at 76.2 (1985=100), up from 69.0 in April. The Present Situation Index increased to 66.7 from 61.0. The Expectations Index improved to 82.4 from 74.3 last month.
Like the recent housing price data (i.e. the Case-Shiller report), this information will be viewed favorably by market participants. However, this information should also be viewed with some caution. The data used to generate this report is collected from only 3,000 households across the country, and while the level of consumer confidence is generally associated with consumer spending, the two, often, do not move in tandem with one another.
