Consumer Confidence Ends the Year with a Decline
December 31, 2018
Despite hitting the highest level in almost 20 years earlier in the year, consumer confidence saw a modest drop off in the last month of 2018.
The Consumer Board Index, which tracks consumers’ feelings about their finances and outlook on the economy, fell to 128.1 in December. This is down from 136.4 in November. In October, the index was at 137.9, its highest level since 2000. Economists had forecast a reading of 133.5.
Despite the drop, consumer confidence remains historically high. The Conference Board report notes that consumers were worried about recent turmoil in the equity markets, weakness in the housing sector, and U.S. trade policy.