U.S. consumer confidence highest since 2008

Biz Asia America

U.S Consumer confidence high

The U.S. government will release a revised number for first quarter GDP growth on Wednesday. Analysts are focusing on last month’s prediction – which had the economy shrinking by a percent due to a harsh winter. Despite the weak start, there are signs of strong growth.

Home sales surged nearly 19 percent in May – the largest increase in more than 2 decades.Those gains along with four straight months of job growth have pushed consumer confidence to its highest level since 2008.

CCTV’s Michelle Markori interviews Lynn Franco, director of economic indicators and surveys at The Conference Board – which just released its Consumer Confidence Index report for May, to talk about U.S. Consumer confidence.