Economics
U.S. Consumer Confidence Unexpectedly Drops, Hits Four-Month Low
- Views on current condtions dim as expectations gauge increases
- Covid resurgence ‘remains a drag on confidence,’ official says
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U.S. consumer confidence unexpectedly fell in December to a four-month low amid surging Covid-19 cases that are spurring more states to tighten restrictions on businesses and travel.
The Conference Board index dropped to 88.6 from a downwardly revised 92.9 in November, according to a report from the group Tuesday. That missed all estimates in a Bloomberg survey of economists that had called for 97. The measure of sentiment about current conditions fell the most since April, while the expectations gauge rose from a four-year low.