Update, consumer confidence

By Staff -- Purchasing, 7/15/1999

Consumer confidence edged up again in May, marking the seventh consecutive monthly gain and the longest up-trend in the 32-year history of the Conference Board (CB) survey. The expectations index rose from 108.8 in April to 109.3 in May. The present situation index closed at 175.6, barely ahead of the 175.5 figure in April. "Low inflation and a strong job market are providing a durable foundation for historically-high levels of consumer confidence. Consumers continue to project healthy economic growth and their hefty batting average over the last three decades suggests it would be unwise to challenge them," says Lynn Franco, Associate Director, the Conference Board's Consumer Research Center.

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