US consumer confidence drops to 96.1 as virus spreads

WASHINGTON (AP) — U.S. consumer confidence fell to a reading of 96.1 in November as rising coronavirus cases pushed Americans’ confidence down to the lowest level since August. The Conference Board said the November reading represented a drop from a revised 101.4 in October. The decline reflected a big drop in consumer expectations for income , business and labor market conditions. The consumer confidence index is set on a scale with 100 equaling the confidence level in 1985.