U.S. consumer confidence fell in November as many households grew more concerned about job security and their overall financial situation. The recently ended government shutdown also played a role in weakening sentiment.
According to the Conference Board, the consumer confidence index slipped to 88.7 in November, down from a revised 95.5 in October. This decline was sharper than economists expected. Analysts surveyed by Reuters had predicted a smaller drop to 93.4, based on the previously reported October level of 94.6.
Chief economist Dana Peterson noted that most consumer write-ins continued to focus on key economic pressures. These included prices and inflation, tariffs and trade issues, and political concerns, with a noticeable rise in references to the federal government shutdown. Although comments about the labor market decreased slightly, they still remained among the most common themes. Overall, the tone from November responses was more negative compared with October.
