Consumer confidence in the United States increased in May compared to a month earlier. This is according to a preliminary figure from the University of Michigan.
The index reflecting sentiment among American consumers went to a level of 102.4 against 97.2 in April. Economists generally expected the index to remain unchanged.
The indicator thus reached the highest level since 2004. US consumers are positive about the domestic economy and very low unemployment. The researchers warn that the escalating trade war between China and the US can undermine consumer confidence.