US consumer confidence slips in November but is still strong
WASHINGTON (AP) — U.S. consumer confidence slipped this month but remains strong.
The Conference Board, a business research group, says its consumer confidence index fell to 135.7 in November from October’s 18-year high 137.9.
The index measures consumers’ assessment of current economic conditions and their outlook for the next six months. Their evaluation of today’s economy improved — but their assessment of future conditions slipped in November.
“Overall, consumers are still quite confident that economic growth will continue at a solid pace into early 2019,” says Lynn Franco, a Conference Board economist. “However, if expectations soften further in the coming months, the pace of growth is likely to begin moderating.”
Americans’ sunny mood reflects a strong job market. Unemployment has dropped to a five-decade low 3.7 percent.