US Conference Board Consumer Confidence dropped to 96.1 in November, down from 101.4, missed expectation of 98.3. Present Situation Index dropped from 106.2 to 105.9. Expectations Index dropped notably from 98.2 to 89.5.
“Consumer confidence declined in November, after remaining virtually flat in October,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “Consumers’ assessment of present-day conditions held steady, though consumers noted a moderation in business conditions, suggesting growth has slowed in Q4. Heading into 2021, consumers do not foresee the economy, nor the labor market, gaining strength. In addition, the resurgence of COVID-19 is further increasing uncertainty and exacerbating concerns about the outlook.”
