The Wall Street Journal reports this morning that the Conference Board’s monthly assessment of consumer confidence detected a souring of opinion that seems related to the soaring of coronavirus numbers.
According to the story, the Conference Board’s “index of consumer confidence fell to 96.1 this month, from a revised 101.4 in October.”
“”Consumers’ assessment of present-day conditions held steady, though consumers noted a moderation in business conditions, suggesting growth has slowed in [the fourth quarter],” said Lynn Franco, senior director of economic indicators at the Conference Board. “Heading into 2021, consumers do not foresee the economy, nor the labor market, gaining strength. In addition, the resurgence of Covid-19 is further increasing uncertainty and exacerbating concerns about the outlook.”