Another Consumer Sentiment Gauge Yields Anxiety
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More than half of Americans say they expect to spend at least the same amount this holiday season as they did last year, according to credit reporting firm TransUnion.
Photographer: Michael Nagle/Bloomberg
For the second time in five days, a gauge of US consumer confidence showed growing concern among Americans when it comes to their financial future. The Conference Board’s gauge slid in November by the most in seven months amid growing anxiety about rising unemployment and inflation.
The figure, weaker than all estimates in a Bloomberg survey of economists, followed a more dire readout Friday, when the University of Michigan showed US consumer sentiment falling to one of its lowest levels on record, with views of personal finances their dimmest since the Great Recession. The Conference Board’s gauge of expectations for the next six months declined to the lowest level since April, while a measure of present conditions slumped to a more than one-year low.