2023-11-28 15:09:00
The US Consumer Confidence Index for November, released by the Conference Board, a US private research organization, rose for the first time in four months. This was due to increased optimism regarding the outlook for the labor market.
Key points U.S. consumer confidence index rises to 102 Median market forecast is 101 Revised downward to 99.1 last month (preliminary value 102.6)
The expectation index, which reflects the outlook for the next six months, is rising. Outlook for employment and income has improved. On the other hand, the current situation index decreased slightly.
“Our November survey showed general improvement across all income groups,” Dana Peterson, chief economist at the Conference Board, said in a statement. We will continue to pay close attention.”
The percentage of respondents saying there is “sufficient employment” has increased. However, the difference with the answer “It’s difficult to get a job” remains almost unchanged from last month. Economists focus on this difference as an indicator of the strength of the labor market.
Plans to purchase cars, homes, and large home appliances all rose. Measures of inflation expectations have eased, with an increasing proportion of consumers saying they expect interest rates to fall next year.
The probability that the economy will enter a recession within the next year is at its lowest point in 2023, but regarding two-thirds still expect a recession.
See table for detailed statistics.
Original title:US Consumer Confidence Rises for First Time in Four Months(excerpt)
(Adds statistics details and updates)
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