Consumer sentiment recovered in May but still remains historically low

Consumer sentiment recovered in May but still remains historically low

Consumer sentiment has recovered this month but still remains at historic low levels, according to KBC Bank.

The index climbed to 52.3 in May from 42.6 in April.

That is its largest month-on-month improvement in five years but remains far below the figures recorded before the pandemic hit.

Chief Economist with KBC Bank, Austin Hughes, says people still don’t feel great about the economy.

"It's not entirely surprising that there was some bounce in the index," he said.

"The index of its nature is forward-looking so aside from these glass half full elements there may also be a glass half empty which really reflects the fact that consumers feel it can't get any worse than it has gotten."

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