Consumer Confidence At Lowest Point in Nine Months

bottom_blob-1

The Consumer Confidence Index® currently sits at 109.5, down from 111.6 the month before–and the lowest it’s been in the past nine months.

“Consumer confidence moderated in November, following a gain in October,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “Expectations about short-term growth prospects ticked up, but job and income prospects ticked down. Concerns about rising prices—and, to a lesser degree, the Delta variant—were the primary drivers of the slight decline in confidence. Meanwhile, the proportion of consumers planning to purchase homes, automobiles, and major appliances over the next six months decreased. The Conference Board expects this to be a good holiday season for retailers and confidence levels suggest the economic expansion will continue into early 2022. However, both confidence and spending will likely face headwinds from rising prices and a potential resurgence of COVID-19 in the coming months.”

Read more.

Want market insights in your inbox?

Sign up below to receive H2R's free monthly e-mails summarizing the latest trends.

We respect your privacy.