Consumers Feeling Better About Economy

Consumer confidence extended its rebound in May, soaring to the highest level since last September as more shoppers are feeling the worst of the recession is behind them.

The Conference Board said Tuesday that its Consumer Confidence Index, which had dramatically increased in April, zoomed past economists’ expectations to 54.9 from a revised 40.8 in April. Economists surveyed by Thomson Reuters were expecting 42.3. In February, confidence levels had hit a new historic low of 25.3.

Related articles:

• Consumer confidence jumps on jobs outlook (dailyfinance.com)
• Economists React: Shift From ‘End of the World’ to ‘Regular Slump’ (blogs.wsj.com)