Sean Ohara, president of Pacer ETFS distributors, discussed the reaction of the stock markets for tariff uncertainty in the morning with Maria.
We consumer confidence Rose promoted optimism in May after five straight months deteriorated after a break in high tariff rates between the US and China, although there was concerns about the increase in tariff prices and damage to the economy.
The conference board said on Tuesday that its consumer confidence index rose by 12.3 points to 98 in May, well above 87 up to 87, which was estimated by the economists voted by Reuters.
Half of the reactions of the Consumer Confidence Survey after May 12 was collected when the Trump administration reached a deal Low tariff For the 90-day period from 145% to 30% on Chinese imports, China reduced its tariff from 125% to 20% in exchange for China.
Global indicators at the conference board, senior economist, Stephanie Guicard said, “Rebound was visible before the US-China trade deal on May 12, but later gained momentum.” “Monthly reform was largely operated by consumer expectations because all the three components of the index – professional situations, employment prospects and future income – their April -offering increased.”
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In May, consumer confidence grew for the first time in five months. (Alan J. Shaben / Los Angeles Times Getty Image) / Getty Images)
“Consumers were less pessimistic about consumers business conditions And received optimism about the availability of jobs and future income in the next six months. The assessment of consumers of the current situation also improved, “said Guicard.
However, he said that “while consumers were more positive about current commercial conditions than last month, his evaluation of current job availability weakened for the fifth consecutive month.”
The conference board report found that the rebound in consumer confidence took place during all age groups and income groups as well as political affiliation-although it was noted that the fall of the former months means that the six-month-old average of the index was still below.
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Consumers mentioned concerns about tariffs and inflation prices. (Gabby Jones / Bloomberg Getty Image / Getty Image)
Tariff continued the facility prominently in the right-in reactions of the conference board, including optimism. Trade deal,
“In particular, consumers continued to express concern about the increase in tariff prices and negative effects on the economy, but some also expected that the declaration and future trade deal could support economic activity,” the report states.
“While inflation and high prices remained a significant concern for consumers in May, there were some mention of reduced inflation and low gas reduction,” he said.
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Report has shown that consumers average Inflation expectations In April, up to 7% spiking up to 7% increased to 6.5% for more than 12 months.
It also asked the consumers a special question whether they have recently changed their expenses and financial behavior, with more than one -third (36.7%) said that they have invested one side for future expenses. About a quarter of consumers stated that they tapped into savings to pay for goods and services (26.6%) and postponed the major purchase (26%).
Reuters contributed to this report.
