In recent months, American attitudes towards the economy have shown signs of improvement for the first time since March. This positive shift was largely attributed to better perceptions of the job market. The Consumer Confidence Index, conducted by The Conference Board, increased to a reading of 102 from 97.5 in April. According to the survey, Americans of all age groups felt more positive about the economy, marking a turnaround after consumer confidence had declined in the previous three months.
Despite a slightly less positive assessment of current business conditions, consumers were bolstered by the strong labor market, which contributed to an overall positive assessment of the present situation. Dana Peterson, chief economist at The Conference Board, highlighted the positive impact of the labor market on consumer confidence in a release.
