The U.S. consumer-confidence index dropped in May for a third straight month, registering at its lowest level since January. According to the Wall Street Journal Market Watch:
The consumer-confidence index fell to 64.9 in May - the lowest level since January -- from a revised 68.7 in April. A prior estimate for April pegged the level at 69.2. "Consumers were less positive about current business and labor-market conditions, and they were more pessimistic about the short-term outlook," said Lynn Franco, director of economic indicators at the Conference Board. …
Generally when the economy is growing at a good clip, confidence readings are at least 90. Economists polled by MarketWatch had expected a reading of 70 for May.
