On May 30, data showed that the US consumer confidence index in May was broadly unchanged from April, ending a four-month slump trend. While preliminary May data showed a pullback in confidence, confidence picked up in the mid-to-late month as tariffs on some goods were temporarily suspended. After the middle of the month, consumer expectations for the business environment improved, which could be a direct impact of trade policy adjustments. However, the stagnation in overall income in May led to a decline in satisfaction with the current personal financial situation, offsetting these positive changes. Overall, consumers believe the economic outlook is no worse than last month, but remain highly concerned about the future.