Surprisingly strong upswing in US Consumer Demand

The CDI is now at the highest level since September 2008. The May survey shows a significant upswing from minus 23 points in April to minus 5 in May, driven by improvements in the index for clothing and the index for food and other grocery store items. These two important indices were the last to collapse when high fuel prices sent the US CDI south last year. It’s a fairly strong indication that the decline in US private consumption expenditure is bottoming out.
 
Data for the May survey were collected from 15th to 17th of May.