The Conference Board's Expectations Index dropped to a five-month low in December, nearing a threshold that typically signals a recession ahead.

U.S consumer confidence dropped in the month of December ahead of the month's holidays, according to data released Monday by the Conference Board. The latest data comes as economists had anticipated a climb from November's consumer confidence of 112.

Confidence was expected to continue to rise. Consumers cite inflation, politics and tariffs as factors they see influencing the economy.

US consumer confidence unexpectedly sank in December for the first time in three months on concerns about the outlook for the economy.