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Home / Business / Consumer confidence bounces back to "historically strong levels" in May

Consumer confidence bounces back to "historically strong levels" in May



  A shopper at a BJ's wholesale club shop in Falls Church, Virginia.

Andrew Harrer | Bloomberg | Getty Images

A shopper at a BJ's Wholesale Club shop in Falls Church, Virginia.

American consumers felt somewhat more optimistic in May after a slight loss of confidence in April.

The Commerce Department reported that US retail sales rose 0.3 percent in April, Associated Press reports. This is a sign that consumers are back at the beginning of this year after a low expenditure.

"Overall, the confidence level remains historically high and should continue to support sound consumer spending in the near future," Franco said.

The index measures the mood of the Americans regarding the current economic situation and expectations for the next six months. Consumer spending accounts for about 70 percent of US economic activity, which draws economists' attention to the numbers.

– AP contributed to this report.


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