US Consumer Confidence Jumps After US-China Trade Truce

US consumer confidence rebounded sharply in May from an almost five-year low as perceptions of the economy and labor market improved as the Trump administration backed down from more extreme tariffs and tariff threats. The Conference Board’s gauge of confidence increased by 12.3 points to 98, marking the biggest monthly gain in four years. The figure exceeded all estimates in a Bloomberg survey of economists.

A gauge of consumer expectations for the next six months surged by the most since 2011, while a measure of present conditions climbed as well, data released Tuesday showed. The improvement in confidence was broad across age, income groups and political affiliations, with the strongest gains among Republicans.