U.S. consumer confidence in May fell for a second month to the lowest level since November.
The Conference Board says its index of consumer confidence dipped to 92.6 last month, down from 94.7 in April. The May reading matched the level in November and both months were the lowest since last July.
Conference Board economists say that consumers remain cautious about the outlook for business and job market conditions, and anticipate little change in the months ahead. The reading for the Conference Board stood in contrast to the University of Michigan’s consumer sentiment gauge, which rose in May to its highest reading in nearly a year.