The Expectations Index, however, declined from 109.6 to 109.4.

In an interview with CBS MarketWatch, Lynn Franco, director of the Conference Board’s consumer research group, noted, “Consumers’ upbeat mood about current business and labor conditions underscore’s the economy’s continuing recovery, but the latest retreat in expectations suggest that the pace of economic growth will not accelerate in the months ahead.”

Consumer’s plans for major purchases such as homes, cars, and major appliances softened slightly in May.

Publication date: 05/27/2002