Industry News

Consumer confidence heads south

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The Conference Board's Consumer Confidence Index sank further in November, falling from 105.1 to 102.9, as fewer Americans expect improvement in labor and business conditions over the next few months. "A tighter labor market and a more guarded short-term outlook have combined to curb consumers' confidence in November," said Lynn Franco, director of The Conference Board Consumer Research Center. "Despite this retreat in confidence, the overall level of confidence remains favorable and continues to suggest that the economy will expand throughout the first half of next year." Consumers' appraisal of current conditions was less positive than in October, as the present situation index decreased to 123.6 from 125.1. Those claiming conditions are "good" declined to 26.5 percent from 27.9 percent. Those claiming conditions are "bad" remained unchanged at 16.8 percent. Labor market conditions were also less favorable than last month, with those saying jobs are "hard to get" rising to 22.4 pe...