(CercleFinance.com) – Consumer confidence in the United States deteriorated in November, albeit at a slower pace than expected, the Conference Board’s monthly survey showed on Tuesday.
The confidence index compiled by the employers’ organization thus stood at 100.2 this month, against 102.2 in October and compared to a consensus which gave it around 100.
In its press release, the Conference Board mainly explains this decline by the rise in gas prices.
In detail, the consumer judgment component of their current situation stood at 137.4, after 138.7 last month, while that of their expectations fell to 75.4 from 77.9.
Below the threshold of 80 points, this last indicator suggests a high probability of recession, recalls the organization.
As for consumer expectations of inflation, they are now at their highest since July, continues the association, which cites the prices of gasoline and food as the main factors behind this phenomenon.
As a result, plans to buy houses, cars or major household appliances are all on the decline, continues the ConfBoard, which predicts that the combination of inflation and high interest rates will continue to weigh on economic activity in the approach of 2023.
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