With Americans increasingly concerned about the outlook for jobs and the economy, U.S. consumer confidence fell to a six-month low in May, according to The Conference Board's confidence index.
The confidence index dropped to 60.8 from a revised 66 reading in April, figures from the New York-based private research group show.
A key measure of housing prices also dropped, to a nine-year low. Home prices decreased 5.1% in the first quarter from the same time in 2010, according to data from S&P/Case-Shiller. Home prices were down 4.2% from the previous three months, the largest one-quarter drop since the first three months of 2009.
Overall consumer finances have been strained by rising food and fuel costs and an erosion in home equity, which in turn has led to a slowdown in spending. A recent downtick in gasoline prices from a three-year high could bring households some relief.
