In this Tuesday, Sept. 15, 2020, file photo, passers-by examine a storefront window in Boston's fashionable Newbury Street shopping district. U.S. consumer confidence dipped slightly in October as a new wave of coronavirus cases began across the country. The Conference Board reported Tuesday, Oct. 27, 2020, that its consumer confidence index fell to a reading of 100.9, from 101.8 in September. (AP Photo/Steven Senne)
By Martin Crutsinger
U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed American optimism down to the lowest level since August.
The November reading released Tuesday by the Conference Board said represents a drop from a revised 101.4 in October. The decline reflected a big drop in consumer expectations for income, business, and labor market conditions.
The consumer confidence index is set on a scale with 100 equaling the confidence level in 1985.
In the leadup to the pandemic with the country enjoying unemployment at a half-century low of 3.9%, the confidence index had risen above 130. It stood at 132.6 in February but plunged to 85.7 in April as millions of Americans lost their jobs after the country went into lockdown to try to halt the spread of the pandemic.
The index has bounced around since its big April decline but remains well below the levels reached before the pandemic hit.
Student loan borrowers have the ability to earn retirement funds pegged to their payments – and the company Summer might be bringing it to your workplace.
It might not be what investors want to hear… but bringing down inflation could mean interest rates stay higher for (even) longer. But it's not all downside.
President Joe Biden and Chinese President Xi Jinping have discussed Taiwan, artificial intelligence and security issues in a call meant to demonstrate a return to regular leader-to-leader dialogue between the two powers.
April is Earth month, and while the green revolution might feel far away, the founder of climate VC Siam Capital says it’s on it’s way, and, even better: it won't cost you more.
From snow in April to heatwaves in December, it’s hard to plan a trip in a climate change world. Startup Sensible Weather thinks weather-based travel reimbursements are the solution.
Between corporate debt and the widening gap between ‘the haves and the have nots,’ there are reasons to be cautious about the economy, even with interest rate cuts on their way.
If the A.I. hype hasn’t given you enough of a reason to be excited (and a little terrified), the CEO of Zapata AI says the next frontier is designing bridges or creating pharmaceutical drugs.
