Consumer Confidence Plunges To 10-Month Lows As Job Hope Fades

``Consumers' assessment of current conditions weakened in May. The percentage stating business conditions are "good" improved from 24.2 percent to 25.9 percent. However, those saying business conditions are "bad" also increased, from 18.2 percent to 21.6 percent. Consumers' appraisal of the labor market was less favorable. The proportion claiming jobs are "plentiful" was virtually unchanged at 24.3 percent, however those claiming jobs are "hard to get" increased from 22.8 percent to 24.4 percent.'' -- One can use one's imagination for how this report squares with the "record-since-2009 surge" in consumer spending (prior post); but our bets are that ZeroHedge's energy-spending driven thesis is closest to the truth in light of this article...