The Conference Board Consumer Confidence Index declined in December, after decreasing in November.
The Index now stands at 88.6, down from 92.9 in November. The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — decreased sharply from 105.9 to 90.3. However, the Expectations Index — based on consumers’ short-term outlook for income, business and labor market conditions — increased from 84.3 in November to 87.5 this month.
The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was Dec. 14.
“Consumers’ assessment of current conditions deteriorated sharply in December, as the resurgence of COVID-19 remains a drag on confidence,” said Lynn Franco, senior director of economic indica
