U.S. consumer confidence improved more than expected in May, after declining for three months in a row, according to the monthly survey published on Tuesday by the Conference Board business federation.

Its index of confidence thus rose to 102 for the current month, after 97 in April (revised from 97.5 in the first reading), whereas economists were expecting it to be around 99.

The current situation sub-index rose to 143.1, from 140.6 the previous month, while the expectations sub-index rose to 74.6, from 68.8 in April.

However, consumers in the US remain anxious about their future situation, ConfBoard points out in its press release.

For the fourth consecutive month, the expectations sub-index has fallen below the 80 threshold, which is generally indicative of a recession in the making", warns the trade organization.

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