U.S. Consumer Confidence Fell on Job Outlook, Nielsen Says
Nielsen, a global information and measurement company, said its index of U.S. consumer confidence fell five points in the period to 87. Its lowest point on record was 80 points in the first half of 2009. The company surveyed 500 people in the U.S. online from May 4 to May 21.
The top concern for U.S. consumers was the economy, with 42 percent citing it as their main worry. Concern for job security also increased from 18 to 22 percent. Concerns for debt, rising fuel and food prices decreased, the survey said.
“Given the dramatic slowdown in hiring which has been steadily falling since January, consumers are concerned that the economy is stalling again,” said James Russo, the vice president of Global Consumer Insights at Nielsen.
One in three respondents said they were optimistic for job prospects in the next six months, one in two were confident for personal finances, and one in three said it was a good time to buy things they want and need, according to the survey.
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