US consumer confidence slips in May

Published May 31, 2022 7:15 AM

By MATT OTT
AP Business Writer

SILVER SPRING, Md. (AP) — U.S. consumer confidence edged down in May as Americans’ view of their present and future prospects dimmed in the midst of persistent inflation. The Conference Board said Tuesday that its consumer confidence index dipped to 106.4 in May from 108.6 in April. The business research group’s present situation index, which measures consumers’ assessment of current business and labor conditions, also fell in May to 149.6 from 152.9 in April. President Joe Biden will meet with Federal Reserve Chairman Jerome Powell on Tuesday as soaring inflation continues to carve up Americans’ earnings.

Article Topic Follows: AP National Business

Jump to comments ↓

Associated Press

BE PART OF THE CONVERSATION

News Channel 3 is committed to providing a forum for civil and constructive conversation.

Please keep your comments respectful and relevant. You can review our Community Guidelines by clicking here

If you would like to share a story idea, please submit it here.