Consumer Confidence Drops in November

Consumer confidence plummets in November, with the Conference Boards index dropping to 88.7, the lowest since April. This decline is attributed to concerns over high prices and job growth, potentially posing political challenges for the administration. Retail sales slowed in September, and while growth is expected in the July-September quarter, a weaker performance is anticipated for the final three months. Despite the drop in confidence, consumer spending has remained strong in recent years. The percentage of consumers believing jobs are plentiful also decreased, with prices, inflation, tariffs, trade, politics, and the government shutdown cited as factors affecting the economy. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.