The Conference Board said on Tuesday that U. S. consumer confidence rose in May for the third consecutive month.
It has been reported that the monthly Consumer Confidence Index, which uses 1985 as a base year with an assigned value of 100, rose from 57.7 to 63.3 after rising 5.6 points in April and 6 points in March.
The monthly survey of 5,000 households in April, found the number of respondents indicating economic conditions were "good" rose from 8.9 percent to 10 percent. The number of respondents, indicating conditions were "bad," fell from 40 percent to 39.3 percent.
The report further revealed that the percentage of respondents indicating jobs were "plentiful" was unchanged, but the number indicating jobs were "hard to get" fell from 44.8 percent to 43.6 percent.
Lynn Franco, director of the Conference Board Consumer Research Center, said that although, up for three months, consumer confidence is "still weak by historic levels." (With Inputs from Agencies)
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