US Conference Board Consumer Confidence dropped to 125.5. in November, down from 126.1, missed expectation of 126.9. Present Situation Index dropped from 173.5 to 166.9. Expectations Index rose from 94.5 to 97.9.
“Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers’ assessment of current business and employment conditions,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The decline in the Present Situation Index suggests that economic growth in the final quarter of 2019 will remain weak. However, consumers’ short-term expectations improved modestly, and growth in early 2020 is likely to remain at around 2 percent. Overall, confidence levels are still high and should support solid spending during this holiday season.”
