Consumer Confidence falls again in November

Consumer Confidence falls again in November: "Consumer Confidence falls again in November


WASHINGTON -- Nov. 30, 2004 -- Consumer confidence fell again in November for the fourth month in a row, surprising economists who had predicted a slight increase. The Conference Board�s Consumer Confidence Index now stands at 90.5, down from 92.9 in October. The Expectations Index, which reflects attitudes about the economy six months in the future, declined to 87.4 from 92.2. The Present Situation Index edged up to 95.2 from 94.0.

�With consumers� assessment of current conditions holding steadfast and intentions to spend for the holiday season up from a year ago, the outlook for retailers is mildly encouraging,� says Lynn Franco, Director of The Conference Board�s Consumer Research Center. �But looking beyond the upcoming holidays, the continuing erosion in expectations suggests consumers do not feel the economy is likely to gain major momentum in early 2005.�

Consumers� had mixed opinions about current conditions. Those claiming business conditions are �good� increased to 23.0 percent from 21.6 percent, while those claiming conditions are �bad� edged down to 20.5 percent from 21.4 percent. The employment picture was not as positive as last month. Consumers saying jobs are �plentiful� decreased to 16.8 percent from 17.4 percent, while those claiming jobs are �hard to get� rose to 28.1 percent from 27.9 percent.

Consumers� long-term outlook continues to lose ground. Those anticipating conditions to worsen in the next six months increased to 11.9 percent from 10.5 percent. Consumers expecting business conditions to improve decreased to 19.3 percent from 20.7 percent.

The employment outlook was also more cautious. Consumers expecting fewer jobs to become available in the next six months "