{"id":21042,"date":"2015-11-24T17:16:25","date_gmt":"2015-11-24T23:16:25","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=21042"},"modified":"2015-12-01T16:43:43","modified_gmt":"2015-12-01T22:43:43","slug":"u-s-consumer-confidence-took-a-hit-in-november","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/","title":{"rendered":"U.S. consumer confidence took a hit in November"},"content":{"rendered":"

By Eve Fan<\/strong><\/p>\n

Consumer confidence in the U.S. declined unexpectedly in November to the lowest\u00a0level in a year,\u00a0as Americans became gloomier about jobs and the labor market.<\/p>\n

The non-profit Conference Board said Tuesday that its Consumer Confidence\u00a0Index fell to 90.4 from 99.1 in October, missing the economists’ consensus\u00a0estimate of 99.5, according to\u00a0Bloomberg LP<\/a>.
\n<\/p>\n

The board\u2019s index that measures the present situation fell to 108.1 from 114.6 in\u00a0October, while the expectations index fell to 78.6 from 88.7. The survey was\u00a0based on results collected by Nov. 12.<\/p>\n

\u201cThe decline was mainly due to a less favorable view of the job market,” said\u00a0Lynn Franco, director of economic indicators at The Conference Board.\u00a0“Consumers\u2019 appraisal of current business conditions, on the other hand, was\u00a0mixed. Fewer consumers said conditions had improved, while the proportion\u00a0saying conditions had deteriorated also declined.\u201d<\/p>\n

[field name=”U.S. consumer confidence plummets”]<\/p>\n

U.S. consumer confidence declined unexpectedly in November to 90.4, the lowest level in a year.(Bloomberg, Eve Fan\/Medill)<\/div>\n

Those who thought jobs are “hard to get” increased to 26.2 percent from 24.6\u00a0percent, while those who thought jobs are “plentiful” fell to19.9 percent from 22.7\u00a0percent last month.<\/p>\n

“Heading into 2016, consumers are cautious about the labor market and expect\u00a0little change in business conditions,\u201d Franco said.<\/p>\n

Americans expecting business conditions to improve in the coming six months\u00a0decreased to 14.8 percent from 18.1 percent. Those who expect their incomes to\u00a0increase fell to 17.2 percent from 18.1 percent.<\/p>\n

The drop in consumer confidence may be bad news for retailers heading into the\u00a0critical holiday selling season, but some economists suggest looking beyond\u00a0November\u2019s results.<\/p>\n

“I think the labor market continues to improve. The average job growth should\u00a0remain around 200,000 for the foreseeable future, some months a little less,\u00a0some months a little more,” Robert Stein, deputy chief economist at\u00a0First Trust\u00a0Advisor LP<\/a>, said during an interview. “I would strongly caution anyone about\u00a0reading too much into a one-month consumer confidence\u00a0survey.”<\/p>\n

Stein said his firm is predicting November\u2019s unemployment rate, to be released\u00a0Dec. 4, will remain at about 5 percent. Stein expects the jobless rate to continue\u00a0on a downtrend to 4.5 percent by late 2016 or mid-2017.<\/p>\n

Economists surveyed by Bloomberg expect a 5 percent unemployment rate in\u00a0November and a rise in non-farm payroll employment of 200,000, compared with\u00a0a 271,000 increase in October.<\/p>\n

Photo at top: Consumer confidence declined in November, which may be bad news for retailers during the holiday selling season. (Eve Fan\/Medill)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Eve Fan Consumer confidence in the U.S. declined unexpectedly in November to the lowest\u00a0level in a year,\u00a0as Americans became gloomier about jobs and the labor market. The non-profit Conference Board said Tuesday that its Consumer Confidence\u00a0Index fell to 90.4 from 99.1 in October, missing the economists’ consensus\u00a0estimate of 99.5, according to\u00a0Bloomberg LP.<\/p>\n","protected":false},"author":158,"featured_media":21236,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,509],"tags":[192],"class_list":["post-21042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-fall-2015","tag-promo"],"yoast_head":"\nU.S. consumer confidence took a hit in November - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"U.S. consumer confidence took a hit in November - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Eve Fan Consumer confidence in the U.S. declined unexpectedly in November to the lowest\u00a0level in a year,\u00a0as Americans became gloomier about jobs and the labor market. The non-profit Conference Board said Tuesday that its Consumer Confidence\u00a0Index fell to 90.4 from 99.1 in October, missing the economists’ consensus\u00a0estimate of 99.5, according to\u00a0Bloomberg LP.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/\" \/>\n<meta property=\"og:site_name\" content=\"Medill Reports Chicago\" \/>\n<meta property=\"article:published_time\" content=\"2015-11-24T23:16:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2015-12-01T22:43:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"3264\" \/>\n\t<meta property=\"og:image:height\" content=\"2448\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Eve Fan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Eve Fan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/\",\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/\",\"name\":\"U.S. consumer confidence took a hit in November - Medill Reports Chicago\",\"isPartOf\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg\",\"datePublished\":\"2015-11-24T23:16:25+00:00\",\"dateModified\":\"2015-12-01T22:43:43+00:00\",\"author\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/b04ecf348a8b4b040c7c3f2f7ec786da\"},\"breadcrumb\":{\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#primaryimage\",\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg\",\"contentUrl\":\"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg\",\"width\":3264,\"height\":2448},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/news.medill.northwestern.edu\/chicago\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"U.S. consumer confidence took a hit in November\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#website\",\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/\",\"name\":\"Medill Reports Chicago\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/news.medill.northwestern.edu\/chicago\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/b04ecf348a8b4b040c7c3f2f7ec786da\",\"name\":\"Eve Fan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d4a62f769df9bad2e032a02146321cef7e86d04ec9148fc21a5e4e9ce840cc37?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d4a62f769df9bad2e032a02146321cef7e86d04ec9148fc21a5e4e9ce840cc37?s=96&d=mm&r=g\",\"caption\":\"Eve Fan\"},\"url\":\"https:\/\/news.medill.northwestern.edu\/chicago\/author\/yixinfan\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"U.S. consumer confidence took a hit in November - Medill Reports Chicago","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/","og_locale":"en_US","og_type":"article","og_title":"U.S. consumer confidence took a hit in November - Medill Reports Chicago","og_description":"By Eve Fan Consumer confidence in the U.S. declined unexpectedly in November to the lowest\u00a0level in a year,\u00a0as Americans became gloomier about jobs and the labor market. The non-profit Conference Board said Tuesday that its Consumer Confidence\u00a0Index fell to 90.4 from 99.1 in October, missing the economists’ consensus\u00a0estimate of 99.5, according to\u00a0Bloomberg LP.","og_url":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/","og_site_name":"Medill Reports Chicago","article_published_time":"2015-11-24T23:16:25+00:00","article_modified_time":"2015-12-01T22:43:43+00:00","og_image":[{"width":3264,"height":2448,"url":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg","type":"image\/jpeg"}],"author":"Eve Fan","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Eve Fan","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/","url":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/","name":"U.S. consumer confidence took a hit in November - Medill Reports Chicago","isPartOf":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#website"},"primaryImageOfPage":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#primaryimage"},"image":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#primaryimage"},"thumbnailUrl":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg","datePublished":"2015-11-24T23:16:25+00:00","dateModified":"2015-12-01T22:43:43+00:00","author":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/b04ecf348a8b4b040c7c3f2f7ec786da"},"breadcrumb":{"@id":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#primaryimage","url":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg","contentUrl":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-content\/uploads\/sites\/3\/2015\/11\/IMG_6764.jpg","width":3264,"height":2448},{"@type":"BreadcrumbList","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/u-s-consumer-confidence-took-a-hit-in-november\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/news.medill.northwestern.edu\/chicago\/"},{"@type":"ListItem","position":2,"name":"U.S. consumer confidence took a hit in November"}]},{"@type":"WebSite","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#website","url":"https:\/\/news.medill.northwestern.edu\/chicago\/","name":"Medill Reports Chicago","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/news.medill.northwestern.edu\/chicago\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/b04ecf348a8b4b040c7c3f2f7ec786da","name":"Eve Fan","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/news.medill.northwestern.edu\/chicago\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/d4a62f769df9bad2e032a02146321cef7e86d04ec9148fc21a5e4e9ce840cc37?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/d4a62f769df9bad2e032a02146321cef7e86d04ec9148fc21a5e4e9ce840cc37?s=96&d=mm&r=g","caption":"Eve Fan"},"url":"https:\/\/news.medill.northwestern.edu\/chicago\/author\/yixinfan\/"}]}},"_links":{"self":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/posts\/21042","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/users\/158"}],"replies":[{"embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/comments?post=21042"}],"version-history":[{"count":0,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/posts\/21042\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/media\/21236"}],"wp:attachment":[{"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/media?parent=21042"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/categories?post=21042"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.medill.northwestern.edu\/chicago\/wp-json\/wp\/v2\/tags?post=21042"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}