Consumer Confidence Index Down Nationwide in November
The Conference Board Consumer Confidence Index, which had rebounded in October, declined in November. The index now stands at 88.7 (1985=100), down from 94.1 in October. The Present Situation Index declined from 94.4 to 91.3, while the Expectations Index decreased sharply to 87.0 from 93.8 in October.
Consumers’ assessment of present-day conditions was moderately less favorable in November than in October. The proportion saying business conditions are “good” decreased from 24.7% to 24.0%, while those claiming business conditions are “bad” increased from 21.3% to 22.4%. Consumers’ assessment of the job market was slightly less favorable, with the proportion stating jobs are “plentiful” falling from 16.5% to 16.0%, and those claiming jobs are “hard to get” increasing marginally from 29.0% to 29.2%.