Consumer Confidence Falls to Lowest Level Since April Amid Rising Job Concerns
Consumer Confidence Decline: The Conference Board's Consumer Confidence Index for November fell to 88.7, marking a significant drop of 6.8 points and the lowest level since April, with consumers expressing increased pessimism about future job prospects and business conditions.
Job Market Sentiment: The perception of job availability worsened, with only 6% of workers considering jobs "plentiful," a sharp decline from 28.6% in October, while expectations for job scarcity slightly decreased.
Inflation and Economic Concerns: Respondents indicated rising inflation expectations at 4.8%, significantly above the Federal Reserve's target, with concerns about prices, tariffs, and political factors dominating their feedback.
Impact of Government Shutdown: The recent government shutdown has disrupted economic data collection, leading to delayed reports and contributing to the overall weakening sentiment among consumers, as reflected in other surveys like the University of Michigan's sentiment gauge.
About the author









