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US consumer confidence dashed expectations in December as soaring COVID-19 cases and warnings of full lockdowns cut into economic outlooks.

The Conference Board’s index of consumer confidence fell to 88.6 this month from 92.9, according to a Tuesday press release. Economists surveyed by Bloomberg expected the gauge to climb to 97. The reading is the lowest since August. November’s reading was also saw a downward revision.

The organization’s Present Situation Index — which measures consumers’ assessment of current economic conditions — plunged to 90.3 from 105.9. A gauge of consumer expectations rose to 87.4 from 83.4 details ⇒

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