U.S Consumer Confidence Declines to 64.9 - 29.5.2012

The Consumer Confidence index in the U.S fell to 64.9 in May from the revised 68.7 in April as the Conference Board reported today. The Consumer Confidence is falling for a fourth consecutive month from February 70.8 to 64.9 in May. This is a result of unemployment slightly increasing and due to pessimism on the short-term outlook of the economy as the euro-crisis is worsening further. Moreover, the economists were expecting a better figure for the Consumer Confidence at 69.6. The US dollar index is trading in a range bound between the 82.44 level and the 81.85 and was lastly seen at the 82.20.