US Consumer Confidence Ticked Down in December
By Associated Press
Published 4 years ago on
December 31, 2019
Share
BALTIMORE — U.S. consumer confidence slipped ever so slightly in December, as expectations fell about economic growth over the next six months.
The Conference Board said Tuesday that its consumer confidence index edged down to 126.5 from November’s reading of 126.8. Americans felt largely confident about business conditions this month amid the holiday shopping season, yet their confidence wavered somewhat regarding job availability and income growth for the first half of 2020.
The reading of consumer sentiment points to continued economic expansion, but not much of an improvement given the 3.5% unemployment rate that is near historic lows.
Consumers Account for Roughly 70% of Economic Activity
“While the economy hasn’t shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020.” — Conference Board economist Lynn Franco
“While the economy hasn’t shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020,” said Conference Board economist Lynn Franco said.Consumers account for roughly 70% of economic activity, so their sentiments about growth can be a key indicator about where the U.S. economy is headed.
Retail sales during the holiday season increased 3.4% from a year ago, according to early data from Mastercard SpendingPulse. But the gains largely came from online shopping, a reflection of how consumer tastes are also changing as fewer people feel the need to browse stores and malls.
RELATED TOPICS:
Unlocking the Secrets to Fresno State’s Superb Baseball Season
Sports /
13 hours ago
Get a 3D First Look at Merced’s High-Speed Rail Station Design
Events /
15 hours ago
California Court to Decide on Transgender Ballot Measure Wording
Politics /
15 hours ago
Rare House Vote Sees Ukraine, Israel Aid Advance as Democrats Join Republicans
Politics /
17 hours ago
Full Jury and 6 Alternates Seated in Trump’s Hush Money Trial
Crime /
17 hours ago
Man Sets Himself on Fire Outside Trump Hush Money Trial Court
NEW YORK — Police officials said they were reviewing whether to restrict access to a public park outside the courthouse where former Preside...
U.S. /
11 hours ago
Categories
Latest
Videos
U.S. /
11 hours ago
Man Sets Himself on Fire Outside Trump Hush Money Trial Court
Economy /
12 hours ago
Real Estate Experts Talk Fresno’s Economic Future. Are Tough Times Ahead?
Sports /
13 hours ago
Unlocking the Secrets to Fresno State’s Superb Baseball Season
Events /
15 hours ago
Get a 3D First Look at Merced’s High-Speed Rail Station Design
Politics /
15 hours ago
California Court to Decide on Transgender Ballot Measure Wording
Economy /
2 days ago