US Consumer Confidence Cools Off
The US consumer confidence was expected to cool off, but it cooled off too much this month.
The US CB consumer confidence report was just released. It is the most important data on the economic calendar this week since we are in the Christmas/New Year holiday season, although it didn’t have much impact on the US Dollar. It was expected to cool off a bit after the jump in November, but it cooled off more than expected in December. Let’s just have a quick look at the numbers from this report.
| Actual | Expected | Previous | |
| CB Consumer Confidence | 128.1 | 133.7 | 135.7 |
| Present Situation | 171.6 | 172.7 | |
| Expectations on Confidence | 99.1 | 111.0 | |
| Jobs Hard to Get | 11.6 | 12.6 |
As you can see, all the numbers are softer than last month. There are no expectations for the components, just for the headline number and that came lower than last month as well as below expectations. But, these are some decent levels nonetheless.
Lynn Franco who is the senior director of Economic Indicators at The Conference Board had these comments after the release.”Expectations regarding job prospects and business conditions weakened, but still suggest that the economy will continue expanding at a solid pace in the short-term. While consumers are ending 2018 on a strong note, back-to-back declines in Expectations are reflective of an increasing concern that the pace of economic growth will begin moderating in the first half of 2019,”. So, no time for panicking, yet.
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