Ann Arbor, MI, May 28--U.S. consumer sentiment slipped fell in May, as high energy prices and the prospect of interest rates hikes weighed on Americans' willingness to spend.
The University of Michigan's consumer sentiment index — released Friday to subscribers — slid to 90.2 in May.
That's down from a preliminary reading earlier this month of 94.2, which mirrored April's level.
Economists had expected the key gauge of how consumers are feeling to remain unchanged in the latest report.
According to Friday's survey — which is based on more complete data than the one released earlier this month — the expectations index slid to 81.6, from April's 87.3, suggesting consumers are less enthusiastic about their future prospects than they had been previously.
The current conditions index, meanwhile, fell to 103.6, from 105 a month earlier.
