logo

Drop in November's CB Consumer Confidence

Drop in November's CB Consumer Confidence

The report stated that consumers continued to be concerned about increasing prices.

Highlights

  • The CB Consumer Confidence dropped from 102.6 in October to 102 in November.
  • The Present Situation Index decreased from 138.6 to 138.2.
  • The Expectations Index rose from 72.7 to 77.8.  

On November 28, The Conference Board released the CB Consumer Confidence report for November, revealing a decline in Consumer Confidence from 102.6 in October to 102 in November, compared to the analyst consensus of 101.

The Present Situation Index, reflecting consumers’ assessment of current business and labor market conditions, decreased from 138.6 in October to 138.2 in November. Simultaneously, the Expectations Index rose from 72.7 to 77.8, remaining below the 80 level for the third consecutive month, historically signaling a recession.

The Conference Board noted an increase in consumer confidence in November following three months of decline but highlighted ongoing concerns about rising prices, war/conflicts, and higher interest rates from consumer responses.

After the release of the CB Consumer Confidence report, the U.S. Dollar Index settled near 103.00 initially but later tested new lows around 102.90. Meanwhile, Gold attempted to maintain levels above $2025, supported by the U.S. dollar's pullback. The S&P 500 retraced towards the 4240 level due to profit-taking, indicating the need for substantial catalysts to sustain its strong rally. Despite the positive CB Consumer Confidence report, it was insufficient to drive stocks higher.  

 

Comment (0)
Show more

Post Your Comment

user
user
email

Newsletter Subscription

Subscribe to our daily newsletter and get the best forex trading information and markets status updates

Stay With Us
Currency Exchange
1.00 USD = 0.67 GBP
FIXIO Home Home FIXIO Deposit Deposit
FIXIO Promotion Promotion FIXIO Support FAQ
Telegram WhatsApp Instagram X X (Twitter)
-->