Despite continuing gloomy economic conditions in the US, consumer confidence declined only slightly in November – slipping 2.3 points to 34.7, compared with 37.0 in October – on future  expectations that local economies will improve, according to the most recent results of the RBC CASH (Consumer Attitudes and Spending by Household) Index.

Despite a sharp decline in energy prices, current consumer sentiment overall remains under siege because persistent negative forces such as the prolonged housing-market collapse, the growing credit crunch and the escalating job crisis scontinue to weigh on people’s minds.

The RBC CASH Index is a monthly national survey of consumer attitudes on the current and future state of local economies, personal finance situations, savings and confidence to make large investments. The Index is composed of four sub-indices: RBC Current Conditions Index; RBC Expectations Index; RBC Investment Index; and RBC Jobs Index