Euphoria over the U.S. economy reopening is fading, consumer confidence survey shows

 Euphoria over the U.S. economy reopening is fading, consumer confidence survey shows

The numbers: The confidence of Americans in the U.S. economy slipped in May for the first time in six months as they grew more worried about a rising cost of living and future job prospects.

The closely followed survey of consumer confidence slipped to 117.2 in May from revised 117.5 in the prior month, the privately run Conference Board said Tuesday.

The original April reading was notably higher at 121.7 and had marked a pandemic high.

The index was forecast to decline slightly to 119.5 based on a survey of economists compiled by Dow Jones and The Wall Street Journal.

All three major surveys of consumer confidence have declined in May even as states loosened or eliminated altogether restrictions put in place during the pandemic.

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