Consumers Show Low Confidence For Businesses

Consumer confidence for U.S. businesses declined in November, after remaining relatively flat in October, says a study by the Conference Board. The index stands at 96.1, down from October’s 101.4. “Consumers assessment of present-day conditions held steady, though consumers noted a moderation in business conditions, suggesting growth has slowed in the fourth quarter,” says Lynn Franco, senior director of economic indicators. “The resurgence of COVID-19 is further increasing uncertainty and exacerbating concerns about the outlook.” Consumers’ sentiment on business conditions declined from 18.6 per cent to 17.6 per cent and they are feeling even less optimistic about the short-term outlook. Their optimism decreased from 36 per cent to 27.4 per cent and are expecting conditions to worsen.