Consumer confidence declines again in May, 4th time in 5 months, particularly for older Americans

By MATT OTT
AP Business Writer

Consumer confidence fell in May as Americans, particularly older ones, became more pessimistic about the labor market, on top of elevated anxiety over inflation. The Conference Board reported Tuesday that its consumer confidence index fell to 102.3 in May from 103.7 in April. It’s the fourth time in five months that overall U.S. consumer confidence has declined. The business research group’s present situation index — which measures consumers’ assessment of current business and labor market conditions — fell to 148.6 from 151.8 last month. The board’s expectations index — a measure of consumers’ six-month outlook — ticked down slightly.