U.S. consumer confidence strengthened in May to the highest level in more than five years, suggesting Americans' attitudes were resilient in the face of belt-tightening in Washington, a private sector report showed on Tuesday.
The Conference Board, an industry group, said its index of consumer attitudes jumped to 76.2 from an upwardly revised 69 in April, topping economists' expectations for 71. It was the best level since February 2008.
April was originally reported as 68.1. After dropping in March, it was the second month in a row confidence has improved. Sentiment had been hit by debates in Washington surrounding fiscal policy, as well as the expiration of the payroll tax holiday at the beginning of the year.
Assistant State Treasurer
Chief Investment Officer
State of Louisiana
Department of the Treasury