Consumer Sentiment Plummets, Job Market Concerns Rise

Consumer sentiment in the US hits a 3-year low, with the index at 50.4, a 6.2% drop from last month and nearly 30% lower than last year. Economists surprised by this decline, possibly due to economic uncertainties. Despite this, retail trade group predicts a strong holiday shopping season with over $1 trillion in sales. Inflation expectations slightly increased, and job market concerns rise, with 71% of households expecting unemployment to rise in the next year. However, some experts caution that these numbers may be skewed due to the government shutdown and changes in survey methodology. The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.