US Conference Board Consumer Confidence fell sharply in November, dropping from 95.5 to 88.7 and undershooting expectations of 93.4. Both major components weakened: Present Situation Index slipped -4.3 points to 126.9, while Expectations Index fell -8.6 points to 63.2. Crucially, the Expectations Index has now remained below the recession-signaling threshold of 80 for ten straight months.
The Conference Board warned that the deterioration was broad-based. Chief Economist Dana Peterson noted that confidence “tumbled… to its second lowest level since April” after months of sideways movement. All five components of the index either weakened or remained at depressed levels, suggesting that consumers are increasingly concerned about future economic conditions.
Full US consumer confidence release here.
