U.S. Consumer Confidence Dips as Post-Election Optimism Wanes

In December, U.S. consumer confidence saw an unexpected decline as post-election optimism diminished and concerns over future business conditions arose. The Conference Board reported a decrease in its consumer confidence index from November's 112.8 to 104.7, missing economists' predictions of an increase.

In a surprising turn, U.S. consumer confidence weakened in December, punctuating the end of post-election optimism and ushering in apprehensions about future economic conditions.

The Conference Board announced on Monday that its widely watched consumer confidence index sagged to 104.7, a notable decline from November's revised figure of 112.8. This movement countered the expectations of economists surveyed by Reuters, who had anticipated the index would rise to 113.3 instead of the initially reported 111.7.

According to Dana Peterson, the chief economist at the Conference Board, there's a dual perspective at play: while consumer sentiment regarding current labor markets continues to exhibit strength, consistent with favorable recent employment and unemployment data, views on business conditions have turned more pessimistic.

(With inputs from agencies.)