Consumer confidence drops in May: Conference Board (Reuters)

Tuesday, May 31, 2011 8:01 AM By dwi

NEW YORK (Reuters) – Consumer confidence slid in May as consumers turned more pessimistic on the outlook for the fag mart and inflation worries rose, according to a private facet report released on Tuesday.

The Conference Board, an industry group, said its finger of consumer attitudes lapse to 60.8 from a revised 66.0 in April. The datum was below economists' forecasts for 66.5.

April was originally reported as 65.4. The expectations finger tumbled to 75.2 from 83.2, patch the present status finger unkind down to 39.3 from 40.2.

Consumers' fag mart categorization was inferior favorable. The equilibrium of those who said jobs were hornlike to get chromatic to 43.9 proportionality from 42.4 proportionality the month before, although the "jobs plentiful" category also chromatic to 5.6 proportionality from 5.1 percent.

Consumers were also more perverse on their view of the fag mart for the incoming six months. Those expecting more jobs in the reaching months attenuated to 15.9 proportionality from 17.8 percent, and those expecting less jobs chromatic to 20.8 proportionality from 18.7 percent.

Consumers' expectations for inflation in the reaching 12 months chromatic to 6.6 from 6.3 percent.

(Reporting by Leah Schnurr; Editing by Padraic Cassidy)


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