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U.S. consumer confidence holds steady; housing showing strain as prices surge

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Reuters

By Lucia Mutikani WASHINGTON (Reuters) – U.S. consumer confidence hovered at a 14-month high in May as optimism about job prospects tempered concerns about rising inflation and diminishing government financial support. Though the survey from the Conference Board on Tuesday suggested the pace of economic growth remained robust in the second quarter, the recovery from the COVID-19 pandemic recession, which started in February 2020, is bumpy. The housing market, one of the star performers, is showing signs of fatigue, with new single-family homes sales dropping in April amid a dearth of propertie…

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