Consumer Confidence Falls to Six Month Low

Consumer confidence fell in May as views of employment conditions deteriorated, a key survey of U.S. households showed Tuesday.

Economists had expected a lower reading. The median forecast was for a reading of 100.0. The prior month, initially reported at 101.3, was revised up to 103.7. So although consumer confidence fell, it is higher than reported in April. Consumers’ assessment of current business conditions improved slightly in May, with the share of consumers saying conditions are good moving up from 19.0 percent to 19.6 percent and the share saying they are bad moving down to 17 percent from 18.1 percent.

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