Consumer Confidence Drops, Job Market Worsens

Consumer confidence plummets in November, reaching its lowest point since April, as Americans grapple with rising costs and slow job growth. The Conference Boards consumer confidence index dropped to 88.7, down from 95.5 in October, with views on the job market worsening and independent voters showing a sharp decline in confidence. Retail sales slowed in September, and experts now predict weaker economic growth for the final quarter of the year due to the government shutdown. Consumer spending may decrease as the percentage of people believing jobs are plentiful fell to 27.6% in November, down from 28.6% in October. The number of people saying jobs are hard to get increased slightly but remains higher than Septembers figures. Consumers express concerns about prices, inflation, trade issues, and politics, with the federal government shutdown being a recent focus. DNN | The Daily News Now! The world’s first global local news network. Every city. Every story. AI powered. Hosted on Acast. See acast.com/privacy for more information.