Washington, DC, May 12, 2006--Consumer sentiment dropped in May on rising gasoline prices and a softening labor market, according to media reports Friday of proprietary research.
The University of Michigan consumer sentiment index fell to 79.0 in May from 87.4 in April, the lowest since October's 74.2.
Economists expected a small decline to about 86.4. The current conditions index fell to 96.2 from 109.2, also the lowest since October.
The expectations index fell to 68.0 from 73.4, also the lowest since October.
