Consumer Confidence Report Breaks Losing Streak

OAN’s Alicia Summers
2:59 PM – Tuesday, May 28, 2024

The Consumer Confidence Report – out today – broke a three-month losing streak. It rose to 102 in May, up from 97.5 in April. Meanwhile, the “Expectations Index” also rose slightly to 74.6, up from 68.8 last month. Yet, it still remains below 80, which historically signals a recession on the horizon. The “Expectations Index” assesses people’s short-term, six-month outlook based on factors like income, business conditions, and the job market.

The 5.8 gain may signal a slightly more optimistic shift in voter perceptions of the economy. However, the report indicates that consumers’ biggest concerns are still inflation and interest rates.

To decode today’s economic numbers, Anthony Saccaro of Providence Financial and Insurance Services joins Alicia Summers.

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