Americans more pessimistic about economy in May
Americans became slightly more pessimistic about the economy in May, a survey showed Tuesday, with consumers saying their opinion of the current situation and expectations of the future had weakened.
The Conference Board said its consumer confidence index declined from 68.7 in April to 64.9 in May.
“Consumers were less positive about current business and labor market conditions, and they were more pessimistic about the short-term outlook,” said the board’s Lynn Franco.
“However, consumers were more upbeat about their income prospects, which should help sustain spending.”
The data, which are keenly watched on Wall Street, could point to slower growth ahead.
[Pedestrians carry shopping bags as they walk along Broadway in April 2012 in New York City. AFP Photo/Justin Sullivan]