By Ruth Mantell
Friday’s data echo a separate report earlier this week showing Americans were the most confident in five years.
According to the University of Michigan report, a gauge of consumers’ views on current economic conditions rose to 98 in May from 89.9 in April. Meanwhile, a barometer of their expectations increased to 75.8 from 67.8.
Elsewhere Friday, the U.S. Department of Commerce reported that consumer spending slowed down last month. But looking longer term, consumers and spending have held up better than economists had anticipated, given higher payroll taxes and fiscal uncertainty this year.
Distributed by MCT Information Services
Continue Reading 1 2
Copyright© 2014 RISMedia, The Leader in Real Estate Information Systems and Real Estate News. All Rights Reserved. This material may not be republished without permission from RISMedia.
Content on this website is copyrighted and may not be redistributed without express written permission from RISMedia. Access to RISMedia archives and thousands of articles like this, as well as consumer real estate videos, are available through RISMedia's REsource Licensed Content Solutions. Offering the industry’s most comprehensive and affordable content packages. Click here to learn more! http://resource.rismedia.com