Consumer confidence dips slightly in May
Tuesday, May 29, 2012
The Conference Board recently released its Consumer Confidence Index, which registered a slight decline in April and an even further drop in May.
The index now sits at 64.9, which is down from the 68.7 it reached in April. The Expectations Index dropped month-over-month to 77.6 from 80.4 and the Present Situation Index dropped to 45.9 from 51.2 during the same period.
"Consumer confidence fell in May, following a slight decline in April," said Lynn Franco, director of Economic Indicators at The Conference Board. "Consumers were less positive about current business and labor market conditions, and they were more pessimistic about the short-term outlook. However, consumers were more upbeat about their income prospects, which should help sustain spending."
Although consumer confidence is on a downward trend, other factors that influence consumer spending and credit are showing positive signs. According to Experian Automotive, consumer credit scores for auto loans have dropped close to prerecession levels and along with lower interest rates and increased loan terms, vehicle buying opportunities are looking brighter for consumers.
Investors influenced by consumer confidence and credit reports can take their knowledge to online investment opportunities.
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