Consumer Confidence Edges Up in November But Recession Concerns Persist
• Consumer confidence ticked up in November after 3 straight months of decline, driven by short-term expectations about income, business, and the job market
• But consumers' outlook on current business and job market conditions dropped slightly
• Consumer expectations remain below 80 for the 3rd straight month, historically foreshadowing a recession within a year
• Around two-thirds still perceive a recession as likely in the next 12 months, especially younger Americans
• Consumers continue to worry about persistent inflation, global conflicts, and high interest rates impacting major purchases