Still in narrow range
The Conference Board’s survey on consumer confidence, which includes a look at the outlook for employment, has detected modest gains in sentiment, but the University of Michigan’s survey of consumer sentiment, which does not measure job market attitudes, is not coming to the same conclusion.
Consumer sentiment did increase from 72.2 in April to 73.6 in May, and it was also up from the preliminary reading earlier in the month of 73.3.
Based on the chart above, consumer sentiment has been nearly flat since the beginning of the year, potentially creating some headwinds for consumer spending.
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