Quikrete Industry Dashboard: $3 gas

Confidence is up; gas prices are up, and stock prices are (still) up
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The latest edition of the Quikrete Industry Dashboard features dips in the residential construction and sales charts, but elsewhere the numbers are up: gas prices, year-over-year consumer confidence and year-over-year stock prices.

The national average price for a gallon of regular gasoline increased to $3.04, up from $2.89 last month, and up from $1.96 a year ago, according to the AAA.

Consumer Confidence slipped marginally in May, as reported by the Conference Board. But at a reading of 117.2 (1985=100), the index looms large over last May’s figure of 85.9.

“Overall, consumers remain optimistic, and confidence should remain resilient in the short term, as vaccination rates climb, COVID-19 cases decline further, and the economy fully reopens,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. 

And while some stock prices have retreated for the month, the year-over-year increases remain impressive. At the low end, HD is up 33%; and at the high end, DE is up almost 140%. 

Next up: The national unemployment rate will be released June 4.