US Conference Board Consumer Confidence Index dropped to 88.6 in December, down from 92.9, missed expectation of 97.5. Present Situation Index dropped sharply from 105.9 to 90.3. However, Expectations Index rose from 84.3 to 87.5.
Lynn Franco, Senior Director of Economic Indicators at The Conference Board: “Consumers’ assessment of current conditions deteriorated sharply in December, as the resurgence of COVID-19 remains a drag on confidence… Overall, it appears that growth has weakened further in Q4, and consumers do not foresee the economy gaining any significant momentum in early 2021.”
