Confidence Boom?

The early read on the Thomson Reuters/University of Michigan Consumer Sentiment index jumped to 83.7 in May, up from 76.4 in April.  Just a quick reminder before we get too excited – sentiment has tended to be low relative to actual spending.  May’s sentiment bounce just returns us to trend:

(click to enlarge)

(click to enlarge)

Better than collapsing confidence, but by itself not pointing to an imminent acceleration in consumer spending.

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