Consumer Confidence Index Declines Again

Nov. 28, 2006
'Guarded' economic outlook is a factor.

Unexpectedly, the Conference Board's Consumer Confidence Index fell this month, for the second consecutive month. The index now stands at 102.9 (1985=100), down from 105.1 in October.

Economists generally were looking for a slight rise in the index in November.

"A tighter labor market and a more guarded short-term outlook have combined to curb consumers' confidence in November," says Lynn Franco, director of the Consumer Research Center at Conference Board, a New York-based business research group.

"Despite this retreat in confidence, the overall level of confidence remains favorable and continues to suggest that the economy will expand throughout the first half of next year," states Franco.

The index is based on a representative sample of 5,000 U.S. households.

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