The Present Situation Index — based on consumers’ assessment of current business and labor market conditions — declined slightly, from 172.7 to 171.6. The Expectations Index — based on consumers’ short-term outlook for income, business and labor market conditions — decreased from 112.3 in November to 99.1 for December.
The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch.
The cutoff date for the preliminary results was December 13.
“Consumer Confidence decreased in December, following a moderate decline in November,” said Lynn Franco, senior director of economic indicators at The Conference Board. “Expectations regarding job prospects and business conditions weakened, but still suggest that the economy will continue expanding at a solid pace in the short term. While consumers are ending 2018 on a strong note, back-to-back declines in Expectations are reflective of an increasing concern that the pace of economic growth will begin moderating in the first half of 2019.”