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Consumer confidence fell to a five-year low this month, the New York-based Conference Board said Tuesday.

The group’s monthly index dropped to a 62.3 reading, from March’s revised 65.9, the group said.

The level was higher than economists’ forecasts of a 61 reading, Bloomberg reported.

The consumer confidence index is a predictor of consumer spending. When people are feeling less confident about the economy, they are less likely to spend money, which decreases demand for trucking services.