Thomson Reuters and the University of Michigan recently reported that consumer confidence in the housing market raised 10.6% to a seasonally adjusted 84.5 on the Consumer Sentiment Index in May. This was revised upwards from preliminary estimates of 83.7 that were released earlier in the month. The Conference Board reported a similar increase of 10.4% on their Consumer Confidence Index, also seasonally adjusted for May, and increased their reading for April as well. This independently agreed upon increase shows a growing optimism of consumers about the present time and also about the future, although that optimism may not translate into increased spending.
Read the full article here: Consumer Confidence Soars, But Expectation of Income Growth is Flat