U.S. consumer confidence unexpectedly rose in May for the first time in four months as views about business conditions and the labor market were less negative.
The Conference Board's gauge of sentiment increased to 102 in May, from an upwardly revised 97.5 in April, according to data out Tuesday. The reading beat all estimates in a Bloomberg survey of economists. This is the first time the index of feelings about current conditions has climbed since January, and the measure of expectations for the future jumped by the most since July.
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