Consumer confidence dipped slightly in May as the inflationary effects of the ongoing war in the Middle East continued to weigh on households, according to a monthly survey from The Conference Board released Tuesday.
The research group said its Consumer Confidence Index fell 0.7 points to 93.1 in May, down from an upwardly revised 93.8 in April. The result came in above the 92.0 reading economists had expected.
The Present Situation Index — which tracks consumers’ assessments of current business and labor market conditions — retreated 3.2 points to 121.2. The Expectations Index, based on consumers’ short-term outlook for income, business, and…
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