Consumer confidence rises for first time since winter

    U.S. consumer confidence unexpectedly rose in May for the first time in four months, Bloomberg reports. 

    The Conference Board’s gauge of sentiment shows that views about business conditions and the labor market are becoming less negative. The gauge increased to 102 from 97.5 in April, according to data released Tuesday. The reading beat all estimates of a Bloomberg survey of economists.

    The index of present conditions climbed for the first time in May since January and the measure of expectations jumped by the most since last July. 

    Although the index is increasing, confidence has generally trended lower in recent months thanks to several factors—stubborn inflation rates, record-high household debt and a softening job market. 

    Get the full report from The Conference Board.