Tuesday, November 28, 2006

Forex News: U.S. consumer confidence drop in November

Forex News

Uncertainty about the stability of the economy caused the second straight monthly decline in U.S. consumer confidence in November. The consumer confidence index fell to 102.9 in November from 105.1 in October. The index peaked at 105.9 in September.

The decline in confidence surprised economists, who were forecasting the index to increase to 106.4.

The present situation index fell in November to 123.6 from 125.1. This is the lowest level since last December. The index is seen as a good indicator of near-term spending plans.

The expectations index slipped to 89.2 in November from 91.9 in October. Inflation expectations fell in November.


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