Reply To: Traders Market Weekly: Memorial Weekend a Time for Reflection

#37722
MoneyNeverSleeps
Participant

Consumer confidence dips in May with inflation view weighing

The Conference Board’s Consumer Confidence Index dipped to 106.4 in May (consensus 103.7) from an upwardly revised 108.6 (from 107.3) in April. In the same period a year ago, the index stood at 120.0.

The key takeaway from the report is that inflation continues to be top of mind for consumers, which could pose downside risk for the economy if inflation pressures persist and curtail consumers’ discretionary spending activity.

The Present Situation Index fell to 149.6 from an upwardly revised 152.9 (from 152.6).
The Expectations Index dropped to 77.5 from an upwardly revised 79.0 (from 77.2).