28 November 2023
The November Conference Board Consumer Confidence index improved to 102.0 after a significant downward revision of October’s data to 99.1, marking the lowest since July 2022. The Present Situation Index dropped to 138.2, the lowest since April 2021. Consumer expectations, remaining below the recession-indicative level of 80 for the third month in a row, signal growing concerns about an impending economic downturn. Around two-thirds of consumers anticipate a recession within the next year, and labor market indicators continue to worsen.