Summary
Consumer confidence in the U.S. economy decreased in November, mainly due to the recent government shutdown, weak job growth, and ongoing high prices. The consumer confidence index, a measure of how people feel about the economy, fell to its lowest level since April. This drop in confidence might affect political outcomes and consumer spending in the future.
Key Facts
- The consumer confidence index fell to 88.7 in November from 95.5 in October.
- The decline is linked to the government shutdown, weak hiring, and persistent inflation.
- President Donald Trump announced tariffs in April, causing the stock market to fall.
- Consumers are increasingly worried about high prices and weak job growth.
- Less consumer confidence might impact spending, but this link isn't always direct.
- 27.6% of people in November said jobs are "plentiful," down from 28.6% in October.
- 17.9% said jobs are "hard to get" in November, slightly less than 18.3% in October.
- The uncertainty about job availability is an indicator of future hiring and unemployment rates.
