US consumer confidence slips slightly in May, Conference Board says

One of the most widely-followed barometres of consumer confidence in the US dipped again slightly in May.

The Conference Board's consumer confidence index slipped from a reading of 119.4 in April to a reading of 117.9 for May.

That was slightly less than the print of 119.9 which economists had penciled in.

Nevertheless, Conference Board director Lynn Franco said the data suggested little change in overall economic conditions, with consumers "somewhat less upbeat" than in April but optimistic overall that the economy would continue expanding into the summer months.

The institute's present situation index rose from 140.3 to 140.7, while the subindex tracking their expectations fell back from 105.4 last month to 102.6.

Consumers short-term outlook was less optimistic in May, the Conference board said, with the proportion expecting business conditions to improve over the next six months falling from 25.1% to 21.3%.

In parallel, those expecting more jobs in the months ahead decreased from 21.9% to 18.6%.