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.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.