Consumer confidence declines in December

NEW YORK — The Conference Board Consumer Confidence Index decreased in December, following a modest decline in November, the group reported today.

The Index now stands at 128.1 (1985=100), down from 136.4 in November. The Present Situation Index, which is based on consumers’ assessment of current business and labor market conditions, declined slightly, from 172.7 to 171.6.

The Expectations Index, which is based on consumers’ short-term outlook for income, business and labor market conditions, decreased from 112.3 last month to 99.1 this month.

“Consumer confidence decreased in December, following a moderate decline in November,” said Lynn Franco, senior director of economic indicators at The Conference Board.

“Expectations regarding job prospects and business conditions weakened, but still suggest that the economy will continue expanding at a solid pace in the short-term,” Franco explained. “While consumers are ending 2018 on a strong note, back-to-back declines in expectations are reflective of an increasing concern that the pace of economic growth will begin moderating in the first half of 2019.”

Consumers’ assessment of current conditions declined slightly in December. The percentage of consumers saying business conditions are “good” decreased from 42.0 percent to 37.2 percent, while those claiming business conditions are “bad” increased from 10.7 percent to 11.3 percent.

Consumers’ assessment of the labor market was mixed. Those claiming jobs are “plentiful” decreased marginally from 46.8 percent to 46.2 percent, while those claiming jobs are “hard to get” declined from 12.6 percent to 11.6 percent.

Consumers’ optimism about the short-term future fell in December. The percentage of consumers expecting business conditions will improve over the next six months decreased from 21.9 percent to 18.3 percent, while those expecting business conditions will worsen increased, from 8.3 percent to 9.7 percent.

Consumers’ outlook for the labor market was also less favorable. The proportion expecting more jobs in the months ahead decreased from 22.7 percent to 16.6 percent, while those anticipating fewer jobs increased, from 11.2 percent to 14.4 percent.

Regarding their short-term income prospects, the percentage of consumers expecting an improvement declined from 23.2 percent to 22.4 percent, while the proportion expecting a decrease rose, from 7.2 percent to 7.7 percent.

The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was Dec. 13.

SOURCE: The Conference Board press release

 

Greg Gerber

Greg Gerber

A journalist who has covered the recreation vehicle industry since January 2000, Greg Gerber founded RV Daily Report on April Fool's Day in 2009. He also serves as the editor of the publication and website. As an Eagle Scout, he has enjoyed camping for decades and has visited every state except Hawaii. A DODO -- Dad of Daughters Only -- to three young women, he has two grandchildren as well. He currently splits his time between Wisconsin, Texas and Arizona. Greg can be reached at editor@rvdailyreport.com.

Leave a Comment

  • SANDIE BOCK says:

    Heard you on the FB program tonight with two dealers. HOPE you are going to write honest, interesting articles and help clean up the mess that some dealers and most manufacturers have made of the RV industry. I am sure you 3 guys are the good guys of the industry but also feel you can help straighten out the bad guys who make it miserable to own and maintain an RV. I love my RVs, I own a MH bought last year and is a 2003 Newmar Mountain Aire and I own a 2002 Sunnbrook 33 BWTS Fiver that now sits on a campground seasonal site in the Mountains of NH. I have RV’d for a long while and know what is good and bad, mostly what is coming out today is very bad.!!

  • Get Daily News Delivered

    Get Weekly News Delivered

    Sponsored Video

    Recent Posts

    Get Daily RV News Delivered

    Every day we send a summary of the most important news via email. Make sure you don’t miss anything.