U.S. consumer confidence unexpectedly declined in November

There is that "unexpectedly" word again. Working in the automotive sector, I can tell you inventories at dealers have risen rather sharply in the last month too.

Via Bloomberg:

Confidence among U.S. consumers unexpectedly declined in November to a seven-month low as Americans grew more pessimistic about the labor-market outlook.
The Conference Board’s index fell to 70.4 from a revised 72.4 a month earlier that was stronger than initially estimated, the New York-based private research group said today. The median forecast in a Bloomberg survey of 78 economists called for a November reading of 72.6.

Rasmussen: Consumer Confidence Takes a Sharp Downturn

Consumer confidence has dropped sharply in the last week.

Rasmussen:

The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell another three points on Sunday to 82.4.  Consumer confidence has dropped seven points since Thursday.  The index is down six points from a week ago, but is up five points from a month ago and 21 points from three months ago.

Consumer Confidence in Economy is in a Meltdown

Rasmussen has found yet another 2 year low for consumer confidence. It dropped there points in one day.

The Rasmussen Consumer Index, which measures the economic confidence of consumers on a daily basis, fell three more points on Saturday to 64.8. That’s the lowest level of confidence recorded since July 10, 2009 and is down 29 points from this year’s high-water mark of 93.3. Consumer confidence is down four points from a week ago, down ten points from a month ago and down thirteen points from three months ago.

Only 9% rate the economy as good or excellent while 61% say it’s in poor shape. Sixteen percent (16%) say it’s getting better while 63% believe it is getting worse.