US consumer confidence unexpectedly rose in May for the first time in four months as views about business conditions and the labor market were less negative. The Conference Board’s gauge of sentiment increased to 102 from an upwardly revised 97.5 in April, according to data out Tuesday. The reading beat all estimates in a Bloomberg survey of economists. May’s index of present conditions climbed for the first time since January and the measure of expectations jumped by the most since July. Despite the increase, confidence has trended lower in recent months as inflation has remained mostly stubborn, household debt hit ... (full story)