NEW YORK, May 31 (UPI) -- U.S. consumer confidence rose in May after declining in April, the Conference Board reported Tuesday.
The group's Consumer Confidence Index, based on a survey of 5,000 U.S. households, hit 102.2 in May, up from 97.5 in April.
"Consumer confidence improved in May, gaining back nearly all of the ground it lost in April," said the board's Lynn Franco. "Consumers' concerns about the economy and jobs have eased."
Also, consumers' assessment of current conditions was more positive in May than in April. Those claiming business conditions are "bad" edged down to 16.8 percent from 17.6 percent. Those claiming conditions are "good" was virtually unchanged at 26.5 percent. The employment picture was mixed. Consumers saying jobs are "hard to get" increased to 24.2 percent from 22.9 percent, but those claiming jobs are "plentiful" rose to 22.6 percent from 20.4 percent.
Consumers' expectations for the next six months, which had been losing ground since January, reversed course in May. Those anticipating business conditions to improve increased to 18.6 percent from 17.7 percent, while consumers expecting business conditions to worsen slid to 9.5 percent from 9.9 percent.
