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National News

US Consumer Confidence Index is up

iStock

After three months of decline, the US Consumer Confidence Index (CCI) increased from April to May of this year, as reported by The Conference Board. 

The CCI measures how consumers feel about the nation’s economy. It is measured using survey responses about consumers’ expectations for their financial situation, the economy, unemployment, and savings. It also considers consumers’ outlook for the next six months. 

This increase indicates that Americans are feeling more optimistic about the economy. This can be attributed to the Biden Administration’s efforts to lower inflation with policies like the Inflation Reduction Act. 

Unemployment also continues to hover at less than four percent and other economic indicators show that the American economy is in good shape. 

To find out more about the Consumer Confidence Index, click here.