Continuing a downward slide, the Conference Board Consumer Confidence Index decreased in December after a "modest" decline in November — perhaps foreshadowing slowing economic growth to come in the new year.
According to the Conference Board, the index now stands at 128.1 (1985=100), down from 136.4 in November. The Present Situation Index, which is based on consumers' assessment of current business and labor market conditions, also decreased, to 171.6 from 172.7. The Expectations Index, which is based on consumers' short-term outlook for income, business and labor market conditions, saw a bigger drop, from last month's 112.3 to just 99.1 in December.
"Consumer confidence decreased in December, following a moderate decline in November," Lynn Franco, senior director of economic indicators at the Conference Board, said in a statement.
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Marlene Satter
Marlene Y. Satter has worked in and written about the financial industry for decades.
