US Consumer Confidence Drops Ahead of Holidays [Video]

What’s New

U.S consumer confidence dropped in the month of December ahead of the month’s holidays, according to data released Monday by the Conference Board.

Why It Matters

The latest data comes as economists had anticipated a climb from November’s consumer confidence of 112.8 to 113.8, thus making the decline a notable shift following months of increasing optimism.

Despite more positive reports in previous months, concerns remain about the economic outlook, leaving policymakers and businesses questioning whether the downturn in confidence will translate to slower growth in 2024.

What to Know

The board’s consumer confidence index dropped to 104.7 this month, down from 112.8 in November.

The index evaluates both current economic perceptions and expectations for the next six months, offering a snapshot of consumer sentiment.