CONSUMER CONFIDENCE UNEXPECTEDLY FALLS

Consumer confidence unexpectedly fell in May, reports the University of Michigan.

According to the results of their latest survey, their sentiment index fell to 81.9 in from a from 84.1 in April.

Economists were looking for an 82.5 print.

The economic conditions subindex fell to 94.5 from 98.7 and the outlook index slipped to 73.7 from 74.7.

All of this is surprising amid an improving labour market and rising stock prices.

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