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US Consumer Confidence Drops To 96.1 As Virus Spreads

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A shop keeper at a gift shop along 34th Street stands on the sidewalk waiting for customers, Friday, Nov. 20, 2020, in New York. In souvenir shops from Times Square to the World Trade Center, shelves full of T-shirts and trinkets still love New York, as the slogan goes. But the proprietors wonder when their customers will, again. The coronavirus has altered many aspects of life and business in the United States' biggest city, and the pandemic is taking a major toll on the gifts-and-luggage stores that dot tourist-friendly areas. After setting records year after year since 2010, travel to New York has plummeted during the pandemic. (AP Photo/Mary Altaffer)

(AP) — U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed Americans’ confidence down to the lowest level since August. The Conference Board said the November reading represented 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.

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