May sees decline in US and Eurozone consumer confidence.

US consumer confidence declined for the fourth time in five months in May, with Americans becoming more pessimistic about the labor market and anxious about inflation. The present situation index, which measures consumers' assessment of current business and labor market conditions, also fell. The expectations index, a measure of consumers' six-month outlook for income, business, and labor conditions, inched down. A reading under 80 often signals a recession in the coming year, and the reading has come in below 80 every month but one since February 2022.