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Consumer sentiment in U.S. plunged in May by most in two years

Consumer confidence unexpectedly fell in May by the most in more than two years as Americans views on the economy dimmed.

By Shobhana Chandra, Bloomberg | Updated on May 15, 2015
(Photo: Shutterstock/ABC Photo)

(Bloomberg) — Consumer confidence unexpectedly fell in May by the most in more than two years as Americans’ views on the economy dimmed.

The University of Michigan preliminary index of sentiment dropped to 88.6, the lowest since October, from 95.9 in April. The 7.3 point decrease was the largest since December 2012. The outcome was lower than the lowest estimate of 68 economists surveyed by Bloomberg.

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