United States Consumer Confidence December 2020

United States

United States: Consumer confidence drops in December

December 22, 2020

Consumer confidence came in at 88.6 in December, down from November's 92.9. As a result, the index fell further below the 100-threshold, and indicated pessimism among consumers.

The fall in the headline reading reflected a decrease in consumers’ assessment of business and labor market conditions. That said, consumers’ short-term assessment of income, business and employment conditions increased.

Lynn Franco, senior director of economic indicators at the Conference Board, noted:

“Overall, it appears that growth has weakened further in Q4, and consumers do not foresee the economy gaining any significant momentum in early 2021.”

FocusEconomics Consensus Forecast panelists expect private consumption to rise 4.7% in 2021, which is up 0.3 percentage points from last month’s forecast, and growth of 3.3% in 2022.

Author:, Economist

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United States Consumer Confidence Chart

United States Consumer Confidence December 20 20 0

Note: Consumer Confidence Index.
Source: The Conference Board.

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