Confidence among US consumers declined more than forecast in December as the budget debate soured Americans’ outlook for the economy.
The Conference Board’s index of sentiment fell to 65.1 from a revised 71.5 reading the prior month, figures from the New York-based private research group showed yesterday. The gauge was projected to fall to 70, according to the Bloomberg survey median.
A report earlier this week showed consumers held back shopping this holiday season, another indication of their concerns about possible tax increases.
The survey also showed consumers’ outlook for the next six months deteriorated to its lowest level since 2011.