Rising gas prices, inflation, the housing market and job security make for one nervous consumer.

That's the thinking behind the Conference Board report that said consumer confidence fell in May. It was the largest single drop in spending since Hurricane Katrina last fall.

The Associated Press reports shoppers are clearly more nervous about the economy. May sales figures, expected out this week, should confirm that anxiety.

Analysts told the AP that if gasoline prices remain high and rising interest rates cut into the housing market, consumers will be spending less.

Jobs could be cut as employers face higher prices for fuel, health insurance and other costs. That could force consumers to retrench.

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