Consumer Confidence Index Drops Six Points in December
The Conference Board Consumer Confidence Index, which had declined slightly in November, posted another decrease in December. The index now stands at 65.1, down from 71.5 in November. The Expectations Index declined sharply to 66.5 from 80.9. The Present Situation Index increased to 62.8 from 57.4 last month.
However, consumers’ assessment of current conditions improved in December. Those stating business conditions are “good” rose to 17.1% from 14.6%, while those stating business conditions are “bad” decreased to 27.3% from 31.2%. Consumers’ appraisal of the labor market was mixed. Those saying jobs are “plentiful” edged down to 10.3% from 11.0%, while those saying jobs are “hard to get” declined to 35.6% from 37.4%.