What tariff anxiety? US consumer confidence numbers came in overnight and blew analysts away.
By the numbers
Consumer confidence, as the name suggests, is all about how are people feeling about the economy.
After five months of constant decline in US consumer confidence following the election of US President Donald Trump and his non-stop tariffs, consumer confidence suddenly jumped overnight.
The Confidence Board in the US overnight announced that consumer confidence rose by a massive 12.3 points in May 2025 to 98.
Last month’s reading of 85.7 was the lowest the number has shrunk to since May 2020 when COVID-19 related lockdown measures were first coming into effect in the United States.
Americans are also reversing their predictions for the economy, with fewer saying they expected a US recession in the short term.
Why it matters to you
US consumer confidence is one of the measures that sets the tone for global economic conditions.
Strong consumer confidence numbers typically accompany a market rise, which is what we’re seeing on local markets today.
The ASX 200 saw a positive open at the open, trending up almost half a percent as the session continues.
The boost has pushed the index to a three-month high.
