The indicator of consumer confidence from the Conference Board declined markedly in may, reaching the level of 92.6 (1985 = 100) compared to 94.7 in April. Analysts index rises to 96.0 from. The current conditions index fell to 112,9 with of 117.1, and the expectations index fell to 79.0 from 79.7.
“Consumer confidence declined slightly in may, primarily at the expense of consumers who rate current conditions less favorably than in April,” said Lynn Franco, Director of economic indicators at the Conference Board. -Expectations also continued to deteriorate, as consumers remained cautious about the Outlook for business conditions in the labour market. Thus, they still expect little change in economic activity in the coming months.”
Consumers ‘ view of current conditions worsened in may. The proportion of those who reported that business conditions were “good” increased from 24.2% to 25.9%. However, the proportion saying business conditions are “bad” rose from 18.2 percent to 21.6 percent. Consumers ‘ view of the situation on the labour market was less favourable. The proportion of those who say that jobs are “plentiful” has remained virtually unchanged and amounted to 24.3 percent, and the proportion of those who said that jobs are “hard to get” rose to 24.4 percent from 22.8 percent.
Consumers were also less optimistic about the short-term Outlook. The proportion of consumers expecting an improvement of conditions for doing business in the next six months increased from 13, 8 percent to 15.1 percent, while the share of those expecting conditions will worsen rose from 10.8 percent to 11.6 percent. Forecast of consumers in terms of the labor market was also less favorable. The proportion waiting more jobs in the coming months has not changed and amounted to 12.8 percent, and those who expect fewer jobs rose from 16.7 percent to 18.1 percent. The proportion of consumers awaiting the growth of their income, has increased from 15.8 percent to 16.2 percent, while the share of those who expect decline in revenue, remained at 12.4 percent.