Pursuits
U.S. Economy: Confidence Unexpectedly Drops to 6-Month Low
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Consumer sentiment unexpectedly decreased in May to the lowest level in six months as Americans grew concerned over the outlook for jobs and the economy, while a measure of home prices dropped to a nine-year low.
The Conference Board’s confidence index dropped to 60.8 from a revised 66 reading in April, figures from the New York-based private research group showed today. Home prices decreased 5.1 percent in the first quarter from the same time in 2010, according to data from S&P/Case-Shiller. A separate report today showed manufacturing cooled.