Economic Buzz: US consumer confidence dips after recent gains

The US consumer confidence in May saw its first drop after three months of gains as Americans grapple with rising prices and inflation, both driven up by the U.S.-Israeli conflict in Iran, the monthly consumer confidence index report said Tuesday. Confidence dropped 0.7 points to 93.1 in May, a low not seen since 2025, according to the index, which is calculated by The Conference Board, a New York-based think tank.

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