Consumer Sentiment Continues To Fall

Ann Arbor, MI, June 13, 2008--Consumer sentiment continued to tumble, according to the University of Michigan/Reuters Consumer Sentiment Survey.

The reading fell from 59.8 in April to 56.7 in May. Economists had expected the reading to fall to 59.

It was the lowest reading since May 1980. The decline from May was larger for the current conditions component although expectations also fell. The current economic conditions index fell to 68.7 from 73.3.