Consumer sentiment dropped in May, biz outlook dims

Monthly index rose 17.1% from May 2023 levels.

U.S. consumers felt less confident about the economy in May of this year after three consecutive months of very little change, according to the University of Michigan’s monthly survey of consumer sentiment.

The latest report showed that the final index of consumer sentiment fell by 10.5% in May from April 2024, to 69.1% compared with 77.2%, respectively…