US Consumer Confidence Declines in November

The Conference Board’s index of consumer confidence in the United States declined to 96.1 in November, down from a revised reading of 101.4 in October, data showed on Tuesday.

This comes as the rising number of new Coronavirus cases across the states pushed down consumer confidence.

“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,” according to Lynn Franco, senior director of Economic Indicators for the Conference Board.