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U.S. consumers were much less confident in the economy in November in the aftermath of the government shutdown and amid weak hiring and stubborn inflation.
Consumer confidence plunged in November to lowest level since April as Americans cite inflation, tariffs, and uncertainty as weighing on sentiment, according to The Conference Board.
US consumer confidence slid in November by the most in seven months on growing anxiety about the labor market and the economy.
U.S. consumer confidence sagged in November as households worried about jobs and their financial situation, likely in part because of the recently ended government shutdown. The Conference Board said on Tuesday its consumer confidence index dropped to 88.
Consumer confidence dropped by nearly 7 points in November, as Americans sour on the economy with the holiday season fast approaching. The Consumer Confidence Index, calculated monthly by the
The announcement shows consumer sentiment hovering near historic lows, reflecting Americans' ongoing concerns about affordability.
The Conference Board’s reading for consumer confidence hit 88.7 in November, down 6.8 points from October’s level of 95.5.
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Consumers report feeling anxious and pessimistic about their own financial situations and the economy at large.