May Auto Sales Decline May be Reflection of Consumer Confidence

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.