Consumer Confidence Rebounds, Recession Anticipation Remains

Consumer confidence in November increased, reaching 102, up from 99.1 in October, with the Present Situation Index at 138.2 and the Expectations Index at 77.8. Despite the rebound, two-thirds of consumers anticipate a recession within the next 12 months. Plans to purchase cars, homes, and big-ticket appliances decreased, reflecting the lingering influence of high interest rates. Wage-price inflation concerns persist, with 85% of consumers feeling their wages do not match inflation rates.