Consumer confidence continues its rebound in May, moving to the highest level since last September as more people 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, moved 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. The reading marks the highest in eight months when the level was 61.4.
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