Support our nonpartisan, nonprofit research and insights which help leaders address societal challenges.
DonateCHARTS
Reopening of economy stabilizes consumer confidence but concern remains about income
The Conference Board Consumer Confidence Index® shows that consumer sentiment in the United States stabilized in May following sharp declines in March and April. The Index now stands at 86.6 (1985=100), up from 85.7 in April. Part of the Index is based on the consumer outlook for business conditions, the labor market, and income over the next six months. The slight improvement in overall confidence was exclusively due to improved consumer sentiment about business conditions in their local area. Sentiment about job prospects stabilized in May, but a majority of consumers surveyed still expect job prospects to improve. However, a majority of consumers expect their income prospects to decline rather than improve. The last time we saw such pessimism regarding income was during the Great Recession. In sum, consumer spending is not likely to propel economic recovery in the months ahead.
Support Our Work
FILTER BY CENTER
Media Room
CORONAVIRUS (COVID-19) CONTENT
Corporate America divided over COVID-19's impact on corporate sustainability programs
June 22, 2020 | CHARTS
COVID-19 slump in retail and recreation traffic has long tail, creating drag on recovery
June 19, 2020 | CHARTS
BLOGS
PRESS RELEASES & iN THE NEWS
Our Experts
Thought leaders who provide trusted insights for navigating companies and the economy though COVID-19.
Bart van Ark
Executive Vice President & Global Chief Economist; Program Director, CFO: Fortune 250 Council
David Hoffman
Senior Vice President Asia and Managing Director of the China Center for Economics & Business
