Consumer Sentiment Falls in May
Ann Arbor, MI, May 30, 2014 --Consumer sentiment fell in May, according to the Thomson Reuters/University of Michigan index.
The final May reading came in at 81.9, down from a final April level of 84.1 but a tick higher than the preliminary May reading of 81.8.
It was below the 82.5 expected by economists.
"The slippage in consumer confidence came to a halt in late May," survey director Richard Curtin said in a statement.
"The main concern expressed by consumers involved dismal prospects for wage growth, which for nearly half of all households meant anticipated declines in inflation-adjusted incomes and living standards during the year ahead."
Some 56% of consumers reported that the economy had improved, up from 49% in April.