After reporting a modest drop in U.S. consumer confidence in the month of April, the Conference Board released a report on Tuesday showing a further deterioration in confidence in May.
The Conference Board said its consumer confidence index fell to 64.9 in May from a downwardly revised 68.7 in April. The drop surprised economists, who had expected the index to edge up to 69.7 from the 69.2 originally reported for the previous month.
With the unexpected decrease, the consumer confidence index fell to its lowest level since coming in at 61.5 in January.
by RTT Staff Writer
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