American consumers are entering the holiday season in a deeply depressed mood.
The Conference Board’s index of consumer confidence fell to 100.2 in November, the lowest level in four months. The decline reflects growing unease about persistently high inflation and fears of a potential recession.
“The combination of inflation and interest rate hikes will continue to pose challenges to confidence and economic growth into early 2023,” said Lynn Franco, senior director of economic indicators at the board.
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