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Consumer Confidence Declines Again in May
Dip Is the Fourth in Five Months
Consumer confidence fell in May as Americans became more pessimistic about the labor market, on top of elevated anxiety over inflation.
reported May 30 that its consumer confidence index fell to 102.3 in May from 103.7 in April. It鈥檚 the fourth time in five months that overall U.S. consumer confidence has declined.
The business research group鈥檚 present situation index 鈥 which measures consumers鈥 assessment of current business and labor market conditions 鈥 fell to 148.6 from 151.8 last month.
The board鈥檚 expectations index 鈥 a measure of consumers鈥 six-month outlook for income, business and labor conditions 鈥 inched down to 71.5 this month from 71.7 in April.
slipped in May to 102.3 (1985=100), down from 103.7 in April.
馃尅锔 Index fell 3.2 pts to 148.6.
馃搲 fell 0.2 pts to 71.5鈥攁nd has now been below 80 every month except one since Feb 2022.
Full Report: 鈥 The Conference Board (@Conferenceboard)
A reading under 80 often signals a recession in the coming year. The Conference Board noted that reading has come in below 80 every month but one since February 2022.
