US Consumer Sentiment Fell in November

Source: The Conference Board

The Conference Board’s Consumer Confidence Index decreased in November to 109.5 in November from 111.6 in October. DXY down -0.63%, EUR USD up +0.78%

• The Present Situation Index, which evaluates the current business and labor market conditions, dropped to 142.5 from 145.5 last month.
• The Expectations Index, which examines consumers’ short-term outlook for income, business, and labor market conditions, dropped to 87.6 from 89.0.
• Lynn Franco, Senior Director of Economic Indicators at the Conference Board, stated that consumer confidence moderated in November, after posting again in October.
• Expectations about the short-term outlook increased, but job and income outlook slowed down.
• Concerns relating to the rising prices and the Delta variant were the main causes of the slight decrease in consumer confidence.
• The percentage of consumers planning to buy homes, automobiles, and major appliances in the next six months decreased.
• The Conference Board anticipates both confidence and spending are likely to encounter headwinds from rising prices and the potential resurgence of COVID-19 in the next few months.