Consumer confidence is on its four-year peak in the the world's largest economy

Consumer confidence increased to its more than four-year peak in May in the United States: The joint confidence index of the University of Michigan and Thomson Reuters increased to its four-year peak, to 77.8 points in mid-May.

Analysts expected 76.2 points, after the 76.4 points of April. Consumers are more optimistic primarily due to favorable developments in the labor market, despite the fact that the growth of new jobs is slowing since two months. (MTI)