US Consumer confidence Falls in May

The Conference Board said today that the consumer confidence index in the United States fell to 117.2 points in May from 117.5 points in April, the highest level since February 2020, and analysts had expected that the consumer confidence index would record 119.2 points in May. The data also showed that consumer inflation expectations in the United States rose on an annual basis by 6.5% during the twelve months to May, compared to the same period this year, compared to 6.2% in April.

The index of the current state of labor conditions and the current labor market rose to 144.3 points in May compared to 131.9 points in April, the highest level in 14 months. However, the expectations index, which is based on consumers' short-term expectations of income, business and the labor market, fell to 99.1 in May from 107.9 in May. April.