Consumer confidence up for 3rd straight month in May
Consumer confidence increased for the 3rd month in a row in May.
Shop owners that News 12 New Jersey spoke with say shoppers have been more likely to swipe their credit or debit cards and shell out cash than last year. Some shoppers say that new jobs may be the reason that spending is up.
However, the owner of a wireless store says that while consumers may be back at work, they are also making less than before. Because of this, the store owner says many customers are looking to downgrade their cell phones.
Research done by the Conference Board shows that consumers are increasingly optimistic about their short-term futures, fueled by the creation of new jobs.