American consumers are entering the holiday season in a deeply depressed mood.
The Conference Board’s index of consumer confidence fell to 100.2 in November, the lowest level in four months. The decline reflects growing unease about persistently high inflation and fears of a potential recession.
This was the second straight month of declining confidence. In October, the index fell sharply from 10.7.8 to 102.5, which was the lowest level in three months. The October drop was worse than expected and the November decline was in line with forecasts.
