US consumer confidence fell to its lowest level in nine months in November

WASHINGTON (AP) – US consumer confidence fell to a nine-month low in November, cut off by rising prices and persistent concerns …

WASHINGTON (AP) – US consumer confidence fell to a nine-month low in November, cut off by rising prices and persistent coronavirus concerns.

The Conference Council reported on Tuesday that its consumer confidence index fell to a reading of 109.5, down from 111.6 in October. It was the lowest reading since the index stood at 95.2 in February and would not include the consequences of omicron, a new variant of coronavirus that has begun to spread.

The Conference Council said that concerns about rising prices and to a lesser extent persistent concerns about the delta variant were the primary reasons for the decline.

There was an even bigger drop this week in the University of Michigan’s consumer satisfaction goals, which fell in November to a decade-low for many of the same reasons.

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