US Consumers Less Upbeat as Confidence Falls in November

Source: The Conference Board 

The index of consumer confidence in the US was at 109.5 in November, a decline from 111.6 posted the previous month. SPY is up +0.90%, DXY is up 0.25%.

• Consumers’ assessment of current conditions in the labor market and business also fell with the index at 142.5 in November, from 145.5 the previous month.
• Consumers’ expectations edged lower, as the index plunged to 87.6, from October’s 89.0 mark.
• The fall in consumer sentiment reflected concerns about income and job opportunities, rising prices, and Delta variant. 
• The Conference Board’s Lynn Franco still expects ramped up holiday shopping, with the economic expansion expected to continue early next year. Rising prices and Covid-19 resurgence are seen as the likely headwinds.