The Conference Board Consumer Confidence Index saw another month of decline in November 2013. The November 2013 index was at 70.4, down from 72.4 in October 2013.
The Present Situation Index, one component of the Consumer Confidence Index, was at 72.0, down from 72.6.
Another component, the Expectations Index, was at 69.3, down from October's 72.2.
Lynn Franco, Director of Economic Indicators at The Conference Board, said the November report indicated some prevailing uncertainty, which could indicate a challenging holiday season for retailers.
"Consumer confidence declined moderately in November after sharply declining in October," said Franco. "Sentiment regarding current conditions was mixed, with consumers saying the job market had strengthened, while economic conditions had slowed. However, these sentiments did not carry over into the short-term outlook. When looking ahead six months, consumers expressed greater concern about future job and earning prospects, but remain neutral about economic conditions."
Consumers' view of overall current conditions was down slightly in November 2013:
* 19.9 % saw business conditions as good, up from 19.5 percent in October
* 25.2% saw business conditions as bad, up from 23.0%
Consumers appraisal of the job market had not changed much:
* 11.8% saw jobs as plentiful, from 11.6% in October
* 34.0% saw jobs as hard to get, from 34.9% in October
Consumers' expectations, after a sharp drop in October, were down again in November:
* 16.6% expected business conditions to improve in the coming six months, from 16.0% in October
* 16.8% expected business conditions to get worse in the next six months, down from 17.5%
Consumers' expectations for the labor market was pessimistic:
* 12.7% expect more jobs in the next six months, from 16.0%
* 21.7% expect fewer jobs in the next six months, from 22.6% in October
The November 2013 data showed that 14.9% of consumers expect to see their incomes increase in the coming six months, from 15.7% in October 2013.
Those expecting a decrease were at 15.9% in November, from 15.5% in October.
to Daily News