May Auto Sales Decline May be Reflection of Consumer Confidence

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Edmunds Auto Observer - May 31, 2011

Consumer confidence fell from 66.0 in April to 60.8 in May, its lowest level in 2011 to date. Consumers’ assessments of both present and future conditions declined, with the more marked declines on future expectations. In particular, consumers reported more negative expectations regarding job availability and income growth. The drop in confidence represents a sharp reversal of the generally upward trend in confidence since October 2010.