The nonprofit research organization The Conference Board announced Tuesday that the confidence of American consumers in regard to current business and labor market conditions is on the rise but notes a recession could be on the horizon.

According to a press release , the Board’s Consumer Confidence Index increased in May by 12.3 points to 98, up from 85.7 in April. Its Present Situation Index, which is based on the assessment of American consumers on current business and labor market conditions, also went up 4.8 points to 135.9.

The Board’s Expectations Index, which measures the short-term outlook of American consumers in relation to business, income and labor market conditions, also rose 17.4 points to 72.8. Global Indicators at The Conference Board Senior Economist Stephanie Guichard

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