WASHINGTON — Americans' confidence in the economy jumped in May to a five-year high, lifted by a better outlook for hiring and business conditions. The increase suggests consumers may keep boosting economic growth this year.
The Conference Board, a New York-based private research group, said Tuesday that its consumer confidence index rose in May to 76.2. That's up from a reading of 69.0 in April and the highest since February 2008.
The jump in confidence followed a separate report showing the housing recovery is strengthening.
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