Consumer confidence unexpectedly falls
In May, consumer confidence fell to the lowest point in four months, defying economists’ predictions that consumer confidence would rise.
Economists surveyed by Bloomberg predicted that confidence would rise to 69.6 from 68.7 in April, but figures released today showed that confidence dipped to 64.9, according to Bloomberg.
Payroll gains were at their weakest in six months, meaning consumers may still be pessimistic about how fast the labor market is coming back.
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