politics
Consumer confidence slips for first time in months
Key takeaways
- Confidence dipped 0.7 points to 93.1 in May, a low not seen since 2025, according to the index, which is calculated by The Conference Board, a New York-based think tank.
- Consumer confidence was typically high before the pandemic, at around 130, but has remained low since the COVID-19 pandemic in 2020.
- Groceries were the top items that most customers, at 60.8 percent, said they will buy at the same amount in the next six months, along with gasoline and other fuels at 53.6 percent.
Why this matters: political developments that affect policy direction and public trust.
Confidence dipped 0.7 points to 93.1 in May, a low not seen since 2025, according to the index, which is calculated by The Conference Board, a New York-based think tank.
Consumer confidence was typically high before the pandemic, at around 130, but has remained low since the COVID-19 pandemic in 2020.
The Conference Board found that 66.5 percent of consumers cited cutting back on spending because of rising prices, 49.5 percent delayed expensive purchases and 46.6 percent delayed buying items they wanted rather than needed.
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