NEW YORK (AP) — Americans confidence in the economy fell the most in eight months as worries about the weak jobs, housing and stock markets continue to rattle them.
The Conference Board, a private research group, said on Tuesday that its Consumer Confidence Index now stands at 64.9, down from a revised 68.7 in April.
The May figure, which represents the biggest drop since October 2011 when the measure fell about 6 points, shows that consumers need more encouraging news before their concerns start to dissipate. Despite easing gas prices, Americans continue to be concerned about slow hiring, declining home values, big drops in the stock market and a worsening European economy that they fear will negatively impact the U.S.
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