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US consumer confidence ebbs in May as inflation worries mount
U.S. consumer confidence eased in May as worries about inflation linked to the war with Iran intensified, offsetting an improvement in households' perceptions of the labor market, a survey showed on Tuesday. The Conference Board said its consumer confidence index slipped 0.7 points to 93.1 this month. Data for April was revised higher to show the index at 93.8 instead of 92.8. Economists polled by Reuters had forecast the index would drop to 92.0. "Consumer confidence edged downward in May as the inflationary impacts of the war in the Middle East intensified," said Dana Peterson, chief economist at the Conference ... (full story)
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