U.S. consumer sentiment ticked lower in May, but still beat expectations, according to a report released on Friday. (Tweet this)
The Thomson Reuters/University of Michigan's final May reading on the index was 90.7. It was down from the previous month's reading of 95.9, but beat Reuters estimates for 89.9.
The decline in optimism, although more narrow in May, about the economy was widespread among all age and income groups across the country.
"Although the loss in confidence narrowed in late May, the decline for the month as a whole was still substantial as consumers have adopted more modest prospects for a rebound following the economy's dismal 1st quarter performance," said Surveys of Consumers Chief Economist Richard Curtin in a statement.