Consumer confidence in the US was at a four-month low in November

The Conference Board poll issued by the Conference Board showed that the consumer confidence index in the United States fell to 100.2 points in November, compared to 102.2 points in October, the lowest reading since last July.

The decline in consumer confidence in November came with the decline in households' keenness to spend on expensive goods during the next six months amid rising inflation and increasing borrowing costs, which increases the risks of a recession crisis next year.

Consumer expectations for inflation rose for 12 months to 7.2% in November, compared to 6.9% in October, the highest level in four months. The so-called difference in the labor market in the survey rose to 32.8 points in November, compared to 31.8 points in October.