Consumer Confidence Drops to Four-Month Low, Future Outlook ‘Gloomy,’ Recession Risk ‘Elevated’: Conference Board

People shop during Black Friday in Arcadia, Calif., on Nov. 25, 2022. Frederic J. Brown/AFP via Getty Images

American consumer confidence tumbled this month to a four-month low, amid a gloomy economic outlook, according to The Conference Board.

The U.S. economy has been facing persistently high inflation, energy shortages, and rising interest rates since last year, raising the risk of a severe recession in 2023.