Source: Sharecast
The University of Michigan’s index of consumer sentiment nudged down to 50.3 from 53.6 in October and 71.8 in November 2024. Economists were expecting a smaller decline to 53.0.
The index for current economic conditions printed at 52.3 in November, down from 58.6 the month before and 63.9 in the same month a year earlier.
Finally, the index of consumer expectations fell to 49.0 from 50.3 in September and 76.9 in November 2024.
Surveys of consumers director Joanne Hsu said: "With the federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy.
"This month’s decline in sentiment was widespread throughout the population, seen across age, income, and political affiliation. One key exception: consumers with the largest tercile of stock holdings posted a notable 11% increase in sentiment, supported by continued strength in stock markets."