Wary about business conditions and jobs, consumer confidence dipped a bit further in May. But consumers still remain optimistic on the whole about the economy.
The Conference Board said Tuesday that its Consumer Confidence Index fell to 117.9 in May, from a revised 119.4 in April. The index hit 124.9 in March, its highest mark in 16 years.
“Consumer confidence decreased slightly in May, following a moderate decline in April,” said Lynn Franco, director of Economic Indicators at The Conference Board. “However, consumers’ assessment of present-day conditions held steady, suggesting little change in overall economic conditions,” Franco added.
