The University of Michigan measure of consumer confidence (15.00 BST) probably fell slightly in May, to 94.0 from 95.9 in April, but that would still leave it at a level consistent with a sharp rebound in consumption.
The modest rebound in gasoline prices over the past month has probably dented consumer confidence. But with the very low level of jobless claims suggesting that the labour market remains strong and with wages starting to rise at a faster pace, consumers have little to worry about.
