U.S. consumer confidence dips slightly as short-term expectations falter

Dec. 31 (UPI) -- U.S. consumer confidence took a slight dip in December due to decreasing expectations of job prospects and other economic factors, the Conference Board reported Tuesday.

The economic think tank's consumer confidence index fell from 126.8 in November to 126.5 in December, coming in below expectations and representing a marginal loss.

The index uses a baseline of 100 as where confidence stood in 1985.

While consumers expressed greater confidence about their present situation, they felt less confident about the near future, the researchers found.

"Consumer confidence declined marginally in December, following a slight improvement in November," said Lynn Franco of the Conference Board.

"While consumers' assessment of current conditions improved, their expectations declined, driven primarily by a softening in their short-term outlook regarding jobs and financial prospects.

"While the economy hasn't shown signs of further weakening, there is little to suggest that growth, and in particular consumer spending, will gain momentum in early 2020," she added.