A measure of U.S. consumer confidence fell in November for the fourth month in a row, another sign that American households are pulling back amid a global slowdown and continued trade war fears.
The Conference Board, a private research group, said Tuesday its index of consumer confidence declined to 125.5 in November from 126.1 in October. Economists surveyed by The Wall Street Journal expected the index to rise to 126.8 this month.
An index measuring consumers’ assessment of current business and labor market conditions fell to 166.9 in November from 173.5 in October. An index tracking consumers’ outlook for future conditions rose to 97.9 from 94.5 in October.
Tuesday’s consumer-confidence results reflect households’ fears over a softening labor market, said Lynn Franco, senior director of economic indicators at The Conference Board. “Growth in early 2020 is likely to remain at around 2%,” she said. “Overall, confidence levels are still high and should support solid spending during this holiday season.”
A separate estimate of consumer sentiment produced by the University of Michigan and released last week found a slight improvement in consumers’ outlook for the economy.
Write to David Harrison at david.harrison@wsj.com
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November 26, 2019 at 10:33PM
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