Dive Brief:
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The U.S. economy had a nice Q3, with Gross Domestic Product growing more than expected in July, August, and September, according to the U.S. Department of Commerce’s quarterly report.
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Real gross domestic product — the value of the production of goods and services in the United States, adjusted for price changes — rose 3.9%. The report is the department’s second, more complete estimate.
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Meanwhile, though, The Conference Board's Consumer Confidence Index was lower than expected in November, the organization reported Tuesday. Its 88.7 score fell from its 94.1 in November and was the lowest since June’s 86.4.
Dive Insight:
The U.S. economy is the bright spot in the world right now, and many economists had expected consumer confidence to rise in November, especially in light of falling gas prices.
But it appears that consumers don’t think that the job market has improved much. Still, The Conference Board’s director of economic indicators Lynn Franco told CNBC that that might not hurt holiday sales much.
"Income expectations were virtually unchanged and gas prices remain low, which should help boost holiday sales,” Franco said.
