Fred Business News - A key measure of consumer confidence dropped in May to the lowest level in 16 years, as Americans grew more concerned about their jobs and more pessimistic about business conditions.
The New York-based Conference Board said Tuesday that its Consumer Confidence Index dropped to 57.2, the lowest level since October 1992, from a revised 62.8 in April. Economists had expected the index to decline to 61, according to a consensus compiled by Briefing.com.
With gas and food prices on the rise, home values declining ... more »
