Americans this month became less upbeat about the outlook for jobs and business after sentiment reached a 16-year high two months ago in anticipation Washington lawmakers would help recharge the economy, according to data from the New York-based Conference Board released Tuesday.
Highlights of Consumer Confidence (May)
Confidence index fell to 117.9 (forecast was 119.5) from a revised 119.4 in April Present conditions measure crept up to 140.7 from 140.3 Gauge of consumer expectations for the next six months dropped to a four-month low of 102.6 from 105.4 Measures of the outlooks for business and employment both decreased to six-month lows
Despite the drop, optimism is still running high on an economy that has kept producing a steady flow of jobs, rising stock and home prices and at least gradual gains in wages. The index of sentiment about current conditions is the second-highest since August 2001. The decline in expectations