With business confidence at post-crisis lows (in the US and around the world) [3], it is hardly surprising that consumer confidence would fade and at 88.7 (vs 96.0 expectations), this is the biggest miss since June 2010. It appears last month's exuberant surge/beat was anomalous as we tumble from 94.5 in October, in spite of tumbling gas prices and record high stocks... The drop was largely driven by a slide in 'hope' as expectations fell to the lowest since June. Labor, employment, and business conditions all dropped.
[4]
