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US consumer confidence falls in November as inflation bites | Coronavirus pandemic News

Mount Equity Group Tokyo, Japan > News > Markets > US consumer confidence falls in November as inflation bites | Coronavirus pandemic News

Consumers in the US are feeling less optimistic about the short-term outlook for their employment and income prospects.

Consumers in the United States are feeling less confident about the economy and the short-term outlook for their employment and income prospects, the Conference Board said on Tuesday.

The Conference Board’s Consumer Confidence Index fell 2.1 points to 109.5 in November, after posting an increase in October.

The Present Situations Index – which gauges how consumers feel about current business and job market conditions – fell to 142.5 in November from 145.5 the previous month.

More importantly, the Expectations Index, which assesses how consumers feel about the short-term outlook for income, business and employment conditions fell to 87.6 from 89.

“Concerns about rising prices – and, to a lesser degree, the Delta variant – were the primary drivers of the slight decline in confidence,” said Lynn Franco,…

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