Consumer Confidence Unexpectedly Tumbles To Its Lowest Levels Since July

Michigan

Photo: Getty Images/Brian Bahr

UPDATE: The final reading from the University of Michigan Consumer Confidence survey for the month of December is out.Click here for updates >

The number fell to 72.9 from a previous December reading of 74.5.

Economists had expected the index to rise to 75.0.

The final December figure marks a 9.8 drop in the index from November’s final reading of 82.7, which was a high for the year.

The final December figure of 72.9 also marks the lowest reading on the index since July.

Inflation expectations for a year ahead edged down to 3.2 per cent from 3.3 per cent in November.

Inflation expectations for three years ahead were flat at 2.9 per cent.

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ORIGINAL: Minutes away from the final December reading from the University of Michigan Consumer Confidence survey, out at 9:55 AM ET.

Economists expect the index to rise to 75.0 after previously recording a 74.5 print.

We will have the release LIVE at 9:55 AM ET. Click here for updates >

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