The Conference Board Consumer Confidence Index Increased in May
May 30, 2018 | The Conference BoardEstimated reading time: 2 minutes
The Conference Board Consumer Confidence Index increased in May, following a modest decline in April (after a downward revision). The Index now stands at 128.0 (1985=100), up from 125.6 in April. The Present Situation Index increased from 157.5 to 161.7, while the Expectations Index improved from 104.3 last month to 105.6 this month.
The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was May 16.
“Consumer confidence increased in May after a modest decline in April,” said Lynn Franco, Director of Economic Indicators at The Conference Board. “Consumers’ assessment of current conditions increased to a 17-year high (March 2001, 167.5), suggesting that the level of economic growth in Q2 is likely to have improved from Q1. Consumers’ short-term expectations improved modestly, suggesting that the pace of growth over the coming months is not likely to gain any significant momentum. Overall, confidence levels remain at historically strong levels and should continue to support solid consumer spending in the near-term.”
Consumers’ assessment of current conditions improved in May. Those claiming business conditions are “good” increased from 34.8% to 38.4%, while those claiming business conditions are “bad” decreased from 12.3% to 12.0%. Consumers’ assessment of the labor market was somewhat mixed. The%age of consumers stating jobs are “plentiful” improved from 38.2% to 42.4%, while those claiming jobs are “hard to get” also increased, from 15.5% to 15.8%.
Consumers were modestly more positive about the short-term outlook in May. The%age of consumers anticipating business conditions will improve over the next six months decreased from 23.6% to 23.1%, while those expecting business conditions will worsen also decreased, from 9.8% to 8.3%.
Consumers’ outlook for the labor market was mixed. The proportion expecting more jobs in the months ahead increased from 18.6% to 19.7%, while those anticipating fewer jobs also increased, from 13.2% to 13.9%. Regarding their short-term income prospects, the%age of consumers expecting an improvement declined, from 21.8% to 21.3%, while the proportion expecting a decrease rose from 7.9% to 8.2%.
About The Conference Board
The Conference Board is a global, independent business membership and research association working in the public interest. Our mission is unique: To provide the world's leading organizations with the practical knowledge they need to improve their performance and better serve society. Winner of the Consensus Economics 2016 Forecast Accuracy Award (U.S.), The Conference Board is a non-advocacy, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States.
About Nielsen
Nielsen Holdings plc is a global performance management company that provides a comprehensive understanding of what consumers watch and buy. Nielsen's Watch segment provides media and advertising clients with Total Audience measurement services for all devices on which content — video, audio and text — is consumed. The Buy segment offers consumer packaged goods manufacturers and retailers the industry's only global view of retail performance measurement. By integrating information from its Watch and Buy segments and other data sources, Nielsen also provides its clients with analytics that help improve performance. Nielsen, an S&P 500 company, has operations in over 100 countries, covering more than 90% of the world’s population. For more information, click here.
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