The Conference Board said Consumer Confidence fell in November as inflation and interest rate hikes continue to pressure consumer confidence. The Conference Board’s Consumer Confidence Index fell to 100.2 in November (consensus 100.0) from a downwardly revised 102.2 (from 102.5) in October. The expectations number remains in recessionary territory below 80. For perspective in the same period a year ago, the Consumer Confidence Index stood at 111.9.
Intentions to buy homes, autos, and big-ticket appliances have all cooled, according to the report; meanwhile, a reading below 80 for the Expectations Index “suggests the likelihood of a recession remains elevated.”
The Conference Board Consumer Confidence Index
- The Conference Board’s Consumer Confidence Index fell to 100.2 in November (Briefing.com consensus 100.0) from a downwardly revised 102.2 (from 102.5) in October. In the same period a year ago, the Consumer Confidence Index stood at 111.9.
- The Present Situation Index declined to 137.4 from 138.7.
- The Expectations Index dropped to 75.4 from 77.9.
- One-year inflation expectations 7.2% from 6.9%
- Jobs hard-to-get 13.0% from 12.7%
The Conference Board publishes the Consumer Confidence Index® at 10 a.m. ET on the last Tuesday of every month. Subscription information and the technical notes to this series are available on The Conference Board website: https://www.conference-board.org/data/consumerdata.cfm.
About The Conference Board
The Conference Board is the member-driven think tank that delivers trusted insights for what’s ahead. Founded in 1916, a non-partisan, not-for-profit entity holding 501 (c) (3) tax-exempt status in the United States. www.conference-board.org.
Source: The Conference Board
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