WASHINGTON (MarketWatch) — Consumers confidence fell May to the lowest level since late 2015 as Americans turned slightly more pessimistic about overall business conditions and the jobs market a survey shows.
The consumer confidence index dropped to 92.6 from a revised 94.7 in April, the nonprofit Conference Board said Tuesday. That’s the lowest level since November and well below the postrecession high of 103.8 set in early 2015.
The present situation index, a measure of current conditions, slid to 117.1 to 112.9.
The future expectations index declined to 79 from 79.7. That’s the weakest reading in almost two and half years.
“Consumers remain cautious about the outlook for business and labor market conditions. Thus, they continue to expect little change in economic activity in the months ahead,” said Lynn Franco, director of economic indicators at board.
