Today’s Lead Story
Tuesday, May 26Economy
Consumer Confidence Slips to 93.1 as Two-Thirds of Americans Are Cutting Spending
via Conference Board
The Conference Board's May Consumer Confidence Index fell to 93.1 from 93.8 in April, with roughly two-thirds of respondents saying they are pulling back on purchases or delaying major expenses due to rising prices tied to energy costs.
Why it matters
Widespread consumer pullback on spending can ripple into slower hiring and income growth, affecting household budgets and job security well beyond daily grocery bills.
