Current and Future Conditions rebound in May

03 June 2025

Please note that survey responses were collected from the period of May 12-23, 2025. The Current Conditions Index rebounded in May to 57.7, following a two-month decline that bottomed out at 16.7 in April. In April, none of the panelists reported improved conditions; however, sentiment picked up in May, with 23% of respondents indicating that conditions were “better.” Meanwhile, 69% said conditions remained “unchanged,” and 8% reported they had worsened. As in the previous month, panelists continued to express uncertainty regarding tariffs and the broader economy, though many remained hopeful that greater clarity would emerge soon. Despite concerns, order volumes have remained strong.