American consumers are feeling less confident in December, a business research group says.
The Conference Board said Monday that its consumer confidence index fell back in December to 104.7 from 112.8 in November. Analysts forecast a rise to a reading of 113.8. Consumers had been feeling increasingly confident in recent months.
The consumer confidence index measures both Americans� assessment of current economic conditions and their outlook for the next six months.
The measure of Americans� short-term expectations for income, business and the job market tumbled more than a dozen points to 81.1. The Conference Board says a reading under 80 can signal a potential recession in the near future.
The board reported Monday that consumers� view of current conditions ticked down just more than a point to a reading of 140.2.
(AP)