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U.S. Consumer Sentiment Slumps Much More Than Expected In May

Reflecting broad based declines, the University of Michigan released a preliminary report on Friday showing U.S. consumer sentiment has deteriorated by much more than expected in the month of May. The report showed the consumer sentiment index tumbled to 59.1 in May from 65.2 in April. Economists had expected the index to edge down to 64.0.
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