US Conference Board Consumer Confidence rose from 99.1 to 102.0 in November, above expectation of 101.0. Present Situation Index ticked down slightly from 138.6 to 138.2. Expectations Index rose from 72.7 to 77.8. Expectations Index remains below 80 for a third consecutive month—a level that historically signals a recession within the next year.
“Consumer confidence increased in November, following three consecutive months of decline,” said Dana Peterson, Chief Economist at The Conference Board. “This improvement reflected a recovery in the Expectations Index, while the Present Situation Index was largely unchanged. November’s increase in consumer confidence was concentrated primarily among householders aged 55 and up; by contrast, confidence among householders aged 35-54 declined slightly. General improvements were seen across the spectrum of income groups surveyed in November. Nonetheless, write-in responses revealed consumers remain preoccupied with rising prices in general, followed by war/conflicts and higher interest rates.”