Consumers' assessment of current conditions ticked higher, as did their expectations for the future. The current economic conditions index hit 109.9 in May, up from 106.7 in April, while the index of consumer expectations h it 84.9 in May, up from 77.6 the prior month.
"Despite the meager GDP growth as well as a higher inflation rate, consumers became more optimistic about their financial prospects and anticipated a somewhat lower inflation rate in the years ahead," Curtin wrote in a statement. He added: "Although small stock gains are anticipated, household wealth is more likely to benefit from rising home prices, with gains now more frequent than in a decade."
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