Consumer confidence dipped for a fourth straight month in November as economic conditions weaken towards the end of 2019, data released Tuesday by The Conference Board shows.
The Board's consumer confidence index dipped to 125.5 this month. That's down from 126.1 in October. Economists polled by Dow Jones expected the index to rise to 126.6.
The present situation index also fell to 166.9 from 173.5 in November. This “that economic growth in the final quarter of 2019 will remain weak,” said Lynn Franco, senior director of economic indicators at The Conference Board, in a statement. “However, consumers’ short-term expectations improved modestly, and growth in early 2020 is likely to remain at around 2 percent. Overall, confidence levels are still high and should support solid spending during this holiday season.”
Source : CNBC