U.S. consumer confidence fell in May, weighed down by concerns over rising gasoline prices and diminished optimism about short-term economic conditions, a survey showed on Tuesday.
The Conference Board said its index of consumer sentiment slipped to 103.2 in May from an upwardly revised April reading of 109.8, which was a four-year high. May’s reading, however, was above economists’ expectations. Economists polled by Reuters had forecast that the index likely fell to a median of 101.1.
