The consumer confidence index decreased to 92.6 in May from a revised 94.7 last month, The Conference Board reported Tuesday.
The April index was originally reported as 94.2.
Economists polled by Thomson Reuters predicted a 96.0 reading for the index.
The present situation index slid to 112.9 from a revised 117.1, first reported as 116.4, while the expectations index fell to 79.0 from a revised 79.7, first reported as 79.3.
"Consumer confidence declined slightly in May, primarily due to consumers rating current conditions less favorably than in April," said Lynn Franco, director of economic indicators for The Conference Board. "Expectations declined further, as consumers remain cautious about the outlook for business and labor market conditions. Thus, they continue to expect little change in economic activity in the months ahead."
Business conditions were called "good" by 25.9% of respondents in May, up from 24.2% of respondents in April. Those saying conditions are "bad" rose to 21.6% from 18.2%.
The percentage of consumers expecting a pickup in business conditions in the next half year rose to 15.1% from 13.8%, while 11.6% said they expect conditions to worsen, up from 10.8% in the prior month.
On the jobs front, those who believe jobs are "plentiful" crept to 24.3% in May from 24.2% in April, while the number saying jobs are "hard to get" rose to 24.4% from 22.8%. The respondents who see fewer jobs becoming available in a half year, grew to 18.1% from 16.7%. Those expecting more jobs to become available crept to 12.8% from 12.7%, The Conference Board reported.
The consumer confidence survey is based on a probability design random sample by the Nielsen Company.
