November delivers another hit to consumer confidence
It’s the lowest index reading since February
WASHINGTON – U.S. consumer confidence fell to a nine-month low in November, clipped by rising prices and concern about the coronavirus.
The Conference Board reported Tuesday that its consumer confidence index dropped to a reading of 109.5, down from 111.6 in October. It was the lowest reading since the index stood at 95.2 in February.
The survey was completed on Nov. 19 and would not include the ramifications of omicron, a new variant of the coronavirus that has begun to spread with few solid answers about the damage it might do to the U.S. and global economies.
Even before the omicron variant appeared, consumer optimism was being tested by price spikes across the board, particularly for gasoline and food.
The Conference Board’s present situation index, which measures consumers’ assessment of current business and labor conditions, fell to 142.5, down from 145.5 in October. The expectations index, based on consumers’ outlook for income, business and labor market conditions, fell to 87.6 in November from 89.0 in October.
The Conference Board said that concerns about rising prices and, to a lesser degree, lingering worries about the delta variant were the primary drivers of the November decline.
But economists believe rising prices and any jolt from the omicron variant will not have a major impact on holiday spending this year, something that can have a sizable impact on the U.S. economy.
Nancy Vanden Houten, lead U.S. economist at Oxford Economics, said she expected the omicron variant would have only a “moderate negative
Nancy Vanden Houten, lead U.S. economist at Oxford Economics, said she expected the omicron variant would have only a “moderate negative impact on growth.”
said. “It hearkens back to when we started.”
Modern sliders use square patties prepared on a bed of onions. Five holes are poked in the beef to help the meat cook faster and let the onion flavor absorb into the burger.
The original sliders, however, were a ball of meat crushed into a circle and cooked on a grill. The 1921 Slider will be seared, and seasoned, and topped with caramelized onions, cheddar cheese, a slice of roma tomato, lettuce and pickles, a news release said.
White Castle founder Billy Ingram came up with the idea of crushing beef meatballs on the grill, and even developed an industrial spatula suited to the task, the release said.
The Short North White Castle at High Street and Second Avenue has served the 1921 Slider since it opened, but the franchise made the special product available at other stores in Columbus, along with St. Louis, Louisville and Nashville.
The national restaurant chain altered its burger-making technique in 1954, Richardson said.
“One of our team members, Earl Howell, put a message in a suggestion box that said if we put five holes in the meat patty, they would cook a lot faster,” he said. “Lo and behold, Earl Howell was on point.”
Anyone who has the White Castle app on their smartphone and signs up for the Craver Nation loyalty program is entitled to a free 1921 slider, the release said. pcooley@dispatch.com @Patrickacooley