The Canadian Press - ONLINE EDITION

US consumer confidence falls on greater pessimism about future income gains

  • Print

WASHINGTON - U.S. consumer confidence fell in May as Americans grew more pessimistic about future pay increases, though they remained optimistic about the broader economy.

The University of Michigan says that its index of consumer sentiment dropped to 81.9 this month from 84.1 in April. Still, Richard Curtin, director of the survey, says that confidence in the first five months of this year has been at the highest level since 2007, before the Great Recession began.

Nearly half of all households expect their inflation-adjusted income to decline over the next 12 months, the survey found. And among those that did anticipate gains, most expect increases of just 1 per cent or 2 per cent.

Consumer confidence is closely watched because spending by consumers drives about 70 per cent of the economy.

Fact Check

Fact Check

Have you found an error, or know of something we’ve missed in one of our stories?
Please use the form below and let us know.

* Required
  • Please post the headline of the story or the title of the video with the error.

  • Please post exactly what was wrong with the story.

  • Please indicate your source for the correct information.

  • Yes

    No

  • This will only be used to contact you if we have a question about your submission, it will not be used to identify you or be published.

  • Cancel

Having problems with the form?

Contact Us Directly
  • Print

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

You can comment on most stories on winnipegfreepress.com. You can also agree or disagree with other comments. All you need to do is be a Winnipeg Free Press print or e-edition subscriber to join the conversation and give your feedback.

Have Your Say

New to commenting? Check out our Frequently Asked Questions.

Have Your Say

Comments are open to Winnipeg Free Press print or e-edition subscribers only. why?

Have Your Say

Comments are open to Winnipeg Free Press Subscribers only. why?

The Winnipeg Free Press does not necessarily endorse any of the views posted. By submitting your comment, you agree to our Terms and Conditions. These terms were revised effective April 16, 2010.

letters

Make text: Larger | Smaller

LATEST VIDEO

Weather for final Fringing weekend

View more like this

Photo Store Gallery

  • MIKE.DEAL@FREEPRESS.MB.CA 100615 - Tuesday, June 15th, 2010 The Mane Attraction - Lions are back at the Assiniboine Park Zoo. Xerxes a 3-year-old male African Lion rests in the shade of a tree in his new enclosure at the old Giant Panda building.  MIKE DEAL / WINNIPEG FREE PRESS
  • Perfect Day- Paul Buteux walks  his dog Cassie Tuesday on the Sagimay Trail in Assiniboine Forest enjoying a almost perfect  fall day in Winnipeg- Standup photo – September 27, 2011   (JOE BRYKSA / WINNIPEG FREE PRESS)

View More Gallery Photos

Poll

Do you like Gord Steeves’ idea to sell four city-owned golf courses to fund road renewal?

View Results

View Related Story

Ads by Google