US Consumer Confidence Rebounds in May After Four-Month Slump

U.S. consumer confidence rose in May after three months of decline, driven by optimism about the labor market despite expectations of persistent inflation and high interest rates. The Conference Board's Consumer Confidence Index increased from 97.5 in April to 102 in May, surpassing economists' expectations. Consumers cited food and grocery prices as key economic indicators, and their short-term outlook for income, business, and labor market conditions also improved. However, the overall confidence gauge remains within a narrow range, and the outlook still signals potential recession risks.