Consumer Confidence Falls in December 2019

The Conference Board has reported that their Consumer Confidence Index, slipped 0.3 points from 126.8 to 126.5 in December, as households were less optimistic about future employment and income. Consumers’ short-term outlook was less positive in December. The fourth such decline in the past five months, with only November 2019, showing a modest improvement. Though consumers remain cautious in the volatile global environment, confidence stays at high level, supported by strong labor market, solid wage growth and cooling trade tensions. The Conference Board also reported the share of respondents planning to buy a home rose to 6% in December. The share of respondents planning to buy a newly constructed home increased to 1.1%, and for those who planning to buy an existing home climbed to 3.4%