via MSN:
The numbers: A survey of consumer confidence slipped in May to a six-month low of 102.3. Americans remained gloomy about the economy and said jobs were getting harder to find.
The closely followed index dipped 1.4 points from a revised 103.7 in the prior month, the Conference Board said Tuesday. The level of confidence in May was the lowest since last November.
Consumer confidence tends to signal whether the economy is getting better or worse. The index remains well below the levels associated with a healthy economy.
Economists polled by The Wall Street Journal had forecast the index to register 99.
Key details: A confidence gauge that looks ahead six months edged down to 71.5 in April from 71.7.
Constant readings below 80 often signal a recession within the next year, the board has said. The expectations index has been below that level in every month except for one in the last 15 months.
A measure that looks at how consumers feel about the economy right now declined to 148.6 from 151.8.
BREAKING: Americans owe $1 trillion in credit card debt
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FED'S BARKIN: INFLATION IS GOING TO BE MORE STUBBORN THAN MANY PEOPLE WOULD HOPE.
— Breaking Market News (@financialjuice) May 30, 2023
$COST CFO: "Historically,…we've always seen, when there's a recession, whether it was '99 or '00 or '09 — '08, '09, '10, we would see — some sales penetration shift from beef to poultry and pork. We have seen some of that now" t.co/TUGB7Kp1P6 pic.twitter.com/7hsRgJkxSC
— The Transcript (@TheTranscript_) May 30, 2023
FED FUNDS FUTURES ARE NOW PRICING IN A 63% CHANCE OF A FED HIKE IN JUNE – FEDWATCH.
— Breaking Market News (@financialjuice) May 30, 2023