Consumer Confidence

Consumer confidence unexpectedly improved in May as the U.S. economy restarted, according to data released Tuesday by The Conference Board. 

The business group’s consumer confidence index rose to 86.6 this month from 85.7 in April. Economists polled by Dow Jones expected consumer confidence of 82.3 in May. 

“Following two months of rapid decline, the free-fall in Confidence stopped in May,” Lynn Franco, senior director of economic indicators at The Conference Board, said in a statement. “Short-term expectations moderately increased as the gradual re-opening of the economy helped improve consumers’ spirits.”

As of Tuesday, all 50 states had reopened their economies to some extent.

Source: CNBC