The Conference Board Consumer Confidence Index dropped from 62.8 in April to 57.2 in May. That’s the lowest it has been since 1992.
The survey of 5,000 U.S. households shows declines in both opinions of the present situation and predictions for the future. The percentage of consumers saying business conditions are “bad” rose to 30.6 percent from 26.5 percent. In May 33.6 percent of consumers said they expect business conditions to worsen over the next six months, compared with 27.4 percent in April.
