Mubasher: US consumer confidence fell for the fourth month running in November, with a gauge measuring sentiment recording a fractional decline, according to a survey.

The Conference Board’s (CB) index came in at 126.1 November, from 125.5 in the prior month, the New York-based group said.

“Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers’ assessment of current business and employment conditions,” the group’s economic indicators top director Lynn Franco said.

The gauge of views on present conditions dropped to 166.9 in November, compared with 173.5 in the previous month.

Nevertheless, survey respondents’ short-term outlook for income, business and labour market conditions improved, with the respective index rising to 97.9, from 94.5 in the preceding month.

“Overall, confidence levels are still high and should support solid spending during this holiday season,” Franco noted, expecting growth to hover around 2% in early 2020.