Consumer confidence in the U.S. climbed less than forecast in May as Americans were a little less ebullient about the economy’s prospects in the run up to the presidential election. The University of Michigan’s final index of sentiment rose to 94.7 from 89 in April. The median projection in a Bloomberg survey of 62 economists called for 95.4, with estimates ranging from 93 to 96.5. A preliminary reading earlier this month was 95.8. Household purchasing power is getting a boost as more Americans than at any time in the last 10 years said they expect their finances to improve over the next 12 months. A pickup in ... (full story)