(Washington) Consumer confidence deteriorated sharply in May in the United States, falling to its lowest since November, due to concerns about a worsening job market and interest rates expected to remain high longer than expected.
The index fell to 69.1 points, from 77.2 points in April, the University of Michigan said Friday, releasing its final estimate. Analysts expected an even stronger deterioration, to 67.6 points, according to the Market Watch consensus.
More details to come.