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.
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