Consumer Sentiment Rises Again

Ann Arbor, MI, May 29, 2009--U.S. consumer sentiment rose in May, but remained at relatively low levels, according to a survey released Friday by the University of Michigan and Reuters.

The consumer sentiment index rose to 68.7 from 65.1 in April. In mid-May the estimate was 67.9. Economists were looking for a final May result of 68.

The index hit a 28-year low of 55.3 in November, and has averaged 88.2 over the last 10 years. Recent confidence readings have been boosted by consumers' expectations that the ravaged economy has nowhere to go but up.