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Consumer confidence decreases

November 27 2007

The Conference Board's consumer confidence index fell again in November. It now stands at 87.3, down from 95.2 in October.

Consumers claiming conditions are "good" slipped to 22.3% in November from 23.2% last month. Those saying conditions are "bad" rose to 19.1% from 16.6%. Consumers claiming jobs are "plentiful" fell to 23.2% from 24.1%. However, those saying jobs are "hard to get" fell to 21.3% from 22.8%.

"Consumers' apprehension about the short-term outlook is being fueled by volatility in financial markets, rising prices at the pump, and the likelihood of larger home heating bills this winter," said Lynn Franco, director of The Conference Board's consumer research center.

The consumer confidence survey is based on a sample of 5,000 U.S. households.

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