Consumer confidence jumps

Latest survey finds far stronger sentiment than expected about state of the U.S. economy.

May 31, 2005: 10:01 AM EDT

NEW YORK (CNN/Money) - Consumers were far more confident about the economy in May, according to Tuesday's reading from a business research group that came in well above Wall Street expectations.

The Conference Board's May reading on confidence came in at 102.2, up from the revised 97.5 reading in April. Economists surveyed by Briefing.com had forecast the index would drop to 96.0.