FXstreet.com (Barcelona) - Consumer Confidence index declined to the level of 87.3 points in November from the 95.2 points registered in October, according to the latest information by The Conference Board.
Market expectations were a softer decline to the level of 91.0 points in the November. Present situation index fell to the level of 115.4 points from the 118.0 points posted in October, while expectations index declined to the level of 68.7 points from the 80.0 points seen the previous month.
The director of The Conference Board, Lynn Franco, affirmed that the deep decline observed in confidence is due to the sharp fall in the expectations index. He also added that: Consumers' apprehension about the short-term outlook is being fueled by volatility in financial markets, rising prices at the pump and the likelihood of larger home heating bills this winter.