The current conditions subindex fell just 0.8 points and remains near the U.S. economic recovery’s high point.
Oddly perhaps, inflation expectations are moving higher, even as gasoline prices fall. The one-year expectation for inflation is now 3.3%. That’s a little difficult to parse, given that virtually every other 12-month inflation estimate is much closer to 2% going forward. What the inflation reading may mean is that consumers feel pinched as they get into serious holiday shopping mode.
Today’s drop in consumer confidence contrasts sharply with the earlier report out today on U.S. unemployment, which fell to 7.7%. Markets seem to prefer the sunnier view from the unemployment report, with the S&P and the Dow both up, while the Nasdaq is down fractionally.
Paul Ausick
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.