Consumer Confidence in the US at 3-Month Low

Consumer Confidence in the US at 3-Month Low Consumer confidence in the US was at a 3-month low. Consumer confidence in the country recorded its lowest level in three months due to the impact of the coronavirus epidemic. Consumer confidence recorded the lowest level in three months in November, as the new type of coronavirus (Covid-19) epidemic increased rapidly and the economy and job market expectations of US citizens turned into a negative atmosphere. The index of the Conference Board declined from its revised level of 101.4 in October to 96.1. In the survey conducted by Bloomberg channel with economists, the median was recorded as 98. The expectation indicator was 89.5 in November, the highest rate since July, falling by 8.7 points. While the data in question coincided with the holiday season in which consumer spending would be high in the USA, the increase in the number of cases caused pessimism in the markets. It is said that this will slow down retail sales and recruitment.   Source: Bloomberg HT