US: UoM Consumer Confidence Index worsens more than expected to 57.7 in May vs. 63 – by MSalordFX ConsumerConfidence UnitedStates EconomicIndicator
“Consumer sentiment tumbled 9% amid renewed concerns about the trajectory of the economy, erasing over half of the gains achieved after the all-time historic low from last June,” the UoM noted in its report. “While current incoming macroeconomic data show no sign of recession, consumers’ worries about the economy escalated in May alongside the proliferation of negativeInflation expectations for one year dropped from 4.6% to 4.5% in May. On the contrary, 5-year inflation expectations rose from 3.
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