Economic Buzz: US consumer confidence sinks to new record low

Record-low US consumer confidence in May was even worse than initially reported, according to fresh data released by the University of Michigan on Friday. According to final figures, the university?s consumer sentiment index came in at 44.8 points, down from 48.2 points in its preliminary estimate released on May 8. The reading is the lowest level since data collection began in 1952.

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