Americans' view of the economy improved for the first time in five months

For the first time in five months, Americans improved their outlook on the economy's future. The data came just weeks after the tariff deal between the Trump administration and China, which improved citizens' confidence.

The Conference Board, a business research organization, noted its consumer confidence index rose more than 12 points in May, improving among all demographic groups.

All of them, though particularly those who said they were Republicans, expressed a more optimistic view about future incomes and the job market, while the proportion expecting a recession fell.

"Consumer confidence improved in May after five consecutive months of decline. Consumers were less pessimistic about business conditions and job availability over the next six months and regained optimism about future income prospects. Consumers’ assessments of the present situation also improved," Stephanie Guichard, chief economist for global indicators at The Conference Board, explained.

At the same time, she noted that the assessment of current job availability weakened for the fifth consecutive month.

However, part of the optimistic sentiment preceded the tariff agreement with China. According to the organization, almost half of the responses to compile the index were obtained before Scott Bessent made the agreement public.

"The rebound was already visible before the May 12 U.S.-China trade agreement, but gained momentum afterward. The monthly improvement was largely driven by consumer expectations, as all three components of the Expectations Index - business conditions, employment outlook and future earnings - rose from their April lows," Guichard added.