Consumer confidence rises slightly in May
WASHINGTON (AP) — The Conference Board says consumer confidence rebounded this month as the job market showed signs of improvement.
The business research group's consumer confidence index rose to 95.4 in May from 94.3 in April. The April reading had been sharp drop from March's 101.4.
Consumers' assessment of current economic conditions improved, but their outlook for the next six months slipped. Their expectations for the for the job market improved, however.
Employers added a healthy 223,000 jobs last month, up from a lackluster 85,000 in March. And the unemployment rate slid to 5.4 percent, lowest since May 2008, six months into the Great Recession.