U.S. consumer confidence falls to 7-month low
By CHRISTOPHER S. RUGABER
| The Associated Press
First Published Nov 26 2013 08:59 am • Last Updated Nov 26 2013 08:59 am
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.
Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
About Reader Comments
Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account
. See more about comments here.