Consumer Confidence Takes Unexpected Drop in Early May

Published on:
12 September 2006 at 10:19 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00001666-consumer-confidence-takes-unexpected-drop/

By Pedro Nicolaci da Costa, Reuters

U.S. consumers felt less upbeat in early May as persistently high gasoline prices and worries about the job market took their toll on confidence, a report said on Friday.

The University of Michigan said its measure of consumer sentiment slipped to 85.3 so far this month from 87.7 in April, according to market sources who saw the subscription-only report.

Wall Street analysts had been predicting a slight gain to 88.0, partly because prices at the gasoline pump have come off their highs so far in May.

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Consumer Confidence Takes Unexpected Drop in Early May

Unknown Author

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