Not the kind of number Americans would like to hear going into the Thanksgiving long weekend, but data suggests consumer confidence south of the border dipped for a fourth straight month in November as economic conditions weaken toward the end of 2019.
Information released Tuesday by the U.S. Conference Board finds the index dipped to 125.5 this month, down from 126.1 in October. Economists polled by Dow Jones expected the index to rise to 126.6.
What’s called the present situation index also fell to 166.9 from 173.5 in November, which experts say suggests economic growth in the final quarter of 2019 will remain weak.
Tuesday’s data release is the latest pointing to weaker economic growth to end the year. The New York Federal Reserve’s Staff Nowcast, which estimates quarterly Gross Domestic Product growth, points to an expansion of just 0.7% in the fourth quarter. The Atlanta Fed’s GDPNow measure indicates growth of just 0.4%.