Economics
US Consumer Confidence Drops to Three-Month Low on Inflation
- Conference Board index fell slightly in May to 106.4
- Plans to buy appliances, homes and cars all declined
Consumer figures suggest that high inflation is weighing on household sentiment.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
US consumer confidence dropped in May to the lowest since February, underscoring the impact of decades-high inflation on Americans’ economic views.
The Conference Board’s index decreased to 106.4 from an upwardly revised 108.6 reading in April, data out Tuesday showed. The median forecast in a Bloomberg survey of economists called for a decline to 103.6.