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Consumer Sentiment in U.S. Fell More Than Forecast in May

Consumer confidence fell more than forecast in May, a sign consumer spending may be slow to pick up in the second quarter.

The Thomson Reuters/University of Michigan final index of sentiment dropped to 81.9 in May from 84.1 in April. The median projection in a Bloomberg survey of economists called for 82.5 after an initial May reading of 81.8.