- Prior was 111.7 (revised to 112.8)
- Present Situation Index 145.2 vs. 140.9 prior
- Expectations Index 81.1 vs 92.3 prior
- 12-month inflation expectations 5.0% vs 4.9% prior
This is a big disappointment and lands at the peak of shopping season.
“The recent rebound in consumer confidence was not sustained in December as the Index dropped back to the middle of the range that has prevailed over the past two years,” said Dana M. Peterson, Chief Economist at The Conference Board. “While weaker consumer assessments of the present situation and expectations contributed to the decline, the expectations component saw the sharpest drop. Consumer views of current labor market conditions continued to improve, consistent with recent jobs and unemployment data, but their assessment of business conditions weakened. Compared to last month, consumers in December were substantially less optimistic about future business conditions and incomes. Moreover, pessimism about future employment prospects returned after cautious optimism prevailed in October and November.”
