The Conference Board Consumer Confidence Index, which had decreased in April, declined slightly in May. The Index now stands at 117.9 (1985=100), down from 119.4 in April. The Present Situation Index increased marginally from 140.3 to 140.7, while the Expectations Index declined from 105.4 last month to 102.6 in May.

"Consumer confidence decreased slightly in May, following a moderate decline in April," said Lynn Franco, Director of Economic Indicators at The Conference Board. "However, consumers' assessment of present-day conditions held steady, suggesting little change in overall economic conditions. Looking ahead, consumers were somewhat less upbeat than in April, but overall remain optimistic that the economy will continue expanding into the summer months."