Consumer Confidence Falls in November
Courtesy of AP: U.S. consumer confidence fell in November as Americans worried about their future jobs and earnings prospects, according to a private sector report released on Tuesday.
The Conference Board, an industry group, said its index of consumer attitudes fell to 70.4 from a upwardly revised 72.4 the month before. Economists had expected a reading of 72.9, according to a Reuters poll.
October was originally reported as 71.2.
“Sentiment regarding current conditions was mixed, with consumers saying the job market had strengthened, while economic conditions had slowed,” Lynn Franco, director of economic indicators at The Conference Board, said in a statement.
“However, these sentiments did not carry over into the short-term outlook.” The expectations index fell to 69.3 from 72.2, while the present situation index fell to 72.0, from 72.6.
Consumers’ labor market assessment was little changed. The “jobs hard to get” index ticked lower to 34.0 from 34.9 the month before, while the “jobs plentiful” index ticked up to 11.8 percent from 11.6 percent.
The dollar extended losses against the euro after the report.
Category: General Update
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