Reply #35: Consumer confidence unexpectedly falls in Nov. [View All]

[Ghost Dog]

http://www.azcentral.com/business/articles/1128Economy28-ON.html
Associated Press
Nov. 28, 2006 08:09 AM

NEW YORK - Worries about the job market chipped away at Americans' confidence in the economy in November, a private research group said Tuesday, boosting concerns about the important holiday shopping season.

The New York-based Conference Board said that its consumer confidence index fell to 102.9 in November from a revised reading of 105.1 in October and was the lowest since August's 100.2. Analysts had expected a reading of 106.

"A tighter labor market and a more guarded short-term outlook have combined to curb consumers' confidence in November," said Lynn Franco, director of The Conference Board Consumer Research Center, in a statement. But she added that despite the retreat, "the overall level of confidence remains favorable and continues to suggest that the economy will expand throughout the first half of next year." -.- Weird. But I guess we're inured by now...