• US consumer confidence slips in May

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    WASHINGTON, D.C.: US consumer confidence fell for the second straight month in May amid apparent caution over the economic situation, the Conference Board said on Tuesday.

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    The monthly consumer confidence index fell to 92.6 from 94.7 in April. The index was at the low end of the range for the last year, and well beneath the high of 102.6 in September.
    The main reason for the fall in the overall index was a decline in favorable views of the current situation in the economy.

    But survey details suggested very mixed conditions around the country. The survey shows slight rises in both the number of respondents who saw current business conditions improving and those who see a deterioration. Still, 52.5 percent said things were normal, though that was down from 57.6 percent a month ago.

    A similar increase in both negative and positive views came on the outlook for six months, while more than 73 percent held an unchanged view for the outlook.

    AFP

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