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U.S. consumer confidence falls for the fourth month in a row on labor-market worries

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U.S. consumer confidence declines in November

The numbers: Consumer confidence fell in November for the fourth month in a row as Americans expressed more worries about the U.S. labor market, but they remained generally upbeat about the economy heading into the holiday season.

What happened: American were a bit less optimistic about the state of the economy right now, but they expect it to improve a bit in the months ahead. “Overall, confidence levels are still high and should support solid spending during this holiday season,” said Lynn Franco, director of economic indicators at the privately run Conference Board.

Businesses are less confident largely because of a trade war with China that’s dented exports, raised costs and cut into profits. The U.S. and China are striving to strike a “phase-one” agreement, but companies are unlikely to boost spending and investment until trade tensions ease.

 

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