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U.S. consumer confidence falls to 7-month low

Published November 26, 2013 9:03 am
This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

Washington • U.S. consumers' confidence in the economy fell in November to the lowest level in seven months, as Americans expressed more concerns about hiring and pay increases in coming months.

The Conference Board says that its index of consumer confidence dropped to 70.4 from 72.4 in October. The October reading was slightly higher than initially reported.

Confidence has now fallen for three straight months after reaching a five-year high of 82.1 in June.



Consumers' confidence is closely watched because consumer spending accounts for 70 percent of economic activity.

 

 

 

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