US sees decline in consumer confidence: The Conference Board
US Consumer Confidence Index, which had improved in Apr-2011, decreased (31-May-2011) in May-2011, according to The Conference Board. The Index now stands at 60.8 (1985=100), down from 66.0 in Apr-2011. The Present Situation Index decreased to 39.3 from 40.2. The Expectations Index declined to 75.2 from 83.2 last month. [more]
The Conference Board: “A more pessimistic outlook is the primary reason for this month’s decline in consumer confidence. Consumers are considerably more apprehensive about future business and labour market conditions as well as their income prospects. Inflation concerns, which had eased last month, have picked up once again. On the other hand, consumers’ assessment of current conditions declined only modestly, suggesting no significant pickup or deterioration in the pace of growth," Lynn Franco, Director of Consumer Research Center. Source: Company Statement, 31-May-2011.