Americans' willingness to open their wallets shot to a seven-year high in April, but confidence in the US economy fell in May. US consumer spending jumped by 1% in April, the largest month-on-month gain since August 2009. Consumer spending makes up two-thirds of US economic activity. But in May, the consumer confidence index dipped to 92.6 from 94.7 in April, as Americans worried about the long-term outlook of the job market. "Consumers remain cautious about the outlook for business and labour market conditions.
May-31-2016, 17:06:29 GMT