“The Consumer Confidence Index declined in November, following an improvement in October. The Index now stands at 135.7 (1985=100), down from 137.9 in October,” the Conference Board reported on Tuesday.
Key takeaways from the press release
- The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – improved slightly, from 171.9 to 172.7.
- The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – decreased from 115.1 last month to 111.0 this month.
- Consumers’ optimism about the short-term future declined in November.
- Consumers’ outlook for the labor market was somewhat mixed.
- Those expecting more jobs in the months ahead increased slightly from 22.3 percent to 22.8 percent, while those anticipating fewer jobs also increased slightly, from 10.6 percent to 11.1 percent.