Consumer Confidence Picks Up for Third Straight Month

NEW YORK-The consumer confidence index posted its third consecutive monthly gain in May, up 5.6 points to finish the month at 63.3.

As compiled by The Conference Board, the index benefited from increases in both of its major component indexes. The present-situation index tacked on two points to 30.2, and the expectations index improved to 85.3, up 7.9 points from April.

Lynn Franco director of The Conference Board's Consumer Research Center, said the overall index, although still weak by historical standards, "appears to be gaining some traction." Franco said consumers' worries about current conditions and the job market has continued to lessen, while expectations for the future "have increased sharply over the past three months."

Bearing this out, the percentage of consumers who rated current conditions as "good" increased while those saying conditions are bad declined. A larger percentage of consumers also said conditions should pick up over the next six months, while a reduced percentage said conditions would worsen. Consumers' assessment over job conditions both now and down the road also gained in the May survey.

"The improvement has been fueled primarily by growing optimism about business and labor market conditions," Franco said. "Income expectations, however, remain downbeat."

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.

Videos

Current Issue

  • HFN May digital issue

    HFN's DIGITAL EDITION

    May 2017


    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    ALSO IN THIS ISSUE:

    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money