Consumer confidence stays steady
Furniture Today Staff -- Furniture Today, May 27, 2004
NEW YORK — Holding on to its big gain of the month before, consumer confidence was virtually unchanged during May, according to The Conference Board, as Americans report they feel better about the jobs outlook and the U.S. economy.
The bellwether confidence reading, a widely watched gauge of future consumer spending, ticked up slightly, to a level of 93.2 from 93 the prior month, when confidence levels surged 5.1 percent from a March reading of 88.5.
Confidence are now 5.6 percent beneath their 13-month high of 97.7 recorded in January, and have surged up in recent months 21 percent from a low of 77 recorded in September.
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