United States: Consumer confidence falls to lowest level in four months
May 29, 2012
In May, the Conference Board consumer confidence index dropped to 64.9 points from the revised 68.7 points recorded in April (previously reported: 69.2 points). The figure contrasted market expectations, which had anticipated the index stepping up to 69.7 points and marked, in fact, the lowest level recorded in four months. Despite the decline, consumer confidence currently stands 3.2 points above the level recorded in the same month a year ago. The Conference Board explained that consumers were less positive about current business and labour market conditions as well as more pessimistic about the short-term outlook. On the other hand, respondents were more upbeat about their income prospects, which should help sustain spending. According to the Conference Board, the latest figures suggest that the pace of economic growth in the months ahead may moderate.