November 24, 2009
Consumers: This Is As Bad As It Gets
By Matthew L. Brown
The Conference Board's Consumer Confidence Index, which had declined in October, increased slightly in November.
The index now stands at 49.5, up from 48.7 in October and just shy of the "neutral" 50 mark. The Present Situation Index was virtually unchanged at 21.0 and the Expectations Index increased to 68.5 from 67.0 a month ago.
The board warned that although the confidence index posted a slight gain this month, the present situation index remains at a 26-year low. Any improvement in consumers' short-term outlook was the result of a decrease in the percentage of consumers who expect business and labor market conditions to worsen, the board said.
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