The U.S. Consumer Confidence Index dropped in November after an increase in October.
- The Conference Board Consumer Confidence Index fell to 109.5 in November from 111.6 in October.
- The Present Situation Index, which measures consumers’ assessment of current business and labor markets, dropped to 142.5 from 145.5 the prior months.
- The Expectations Index, which measures consumers’ short-term forecast for business, income, and labor market conditions dropped to 87.6 from 89.0.
- Lynn Franco, Senior Director Indicators at The Conference Board, stated that consumer confidence flattened in November after a slight increase in October.
- The Conference Board projects that the holiday season will be good for retailers, and the confidence level indicates economic expansion into early 2022.
Confidence and spending are likely to face hurdles from rising prices and the possible resurgence of COVID-19 in the next few months.
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Source: The Conference Board