U.S. Structured Finance Newsletter: Consumer Confidence Dips Slightly but Still Strong
In its November 27, 2018, press release, the Conference Board announced that its Consumer Confidence Index® (the CCI) decreased slightly in November to 135.7. In October, the CCI had reached an 18-year high of 137.9. Though the index decreased to a slightly lower level than the 135.9 that had been forecast, its average over the past four months of 135.9 is still the highest experienced since the year 2000. Results of the high level of consumer confidence can be seen in the strength of Thanksgiving weekend sales results. According to the National Retail Federation, sales estimates for the Thanksgiving weekend were record breaking for retail stores, and Adobe Analytics reported that Cyber Monday was the largest shopping day in U.S. history. The strength of consumer confidence is further underscored by the fact that these sales records occurred after the stock market lost approximately $2 trillion during the month of October.
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