The News
US consumer confidence increased sharply in May after five straight months of declines, amid easing of US-China tariff tensions eased and hopes of future trade deals, according to new Conference Board data released Tuesday.
The rebound from April’s lows surpassed economists’ expectations, driven in large part by the May 12 US-China trade détente. There is also optimism over major US trading partners working to secure agreements to avoid punishing tariffs; on Friday, Trump delayed planned tariffs on the European Union, boosting stock markets.
Still, consumers remained concerned about tariff-fueled price rises, the Board noted, as several major retailers have warned of price hikes in the coming months.
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