Consumer confidence fell sharply in November to its second-lowest level since April, with widespread declines across job, income, and financial sentiment.
Key Takeaways
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Sharp decline in confidence: The Consumer Confidence Index fell to 88.7 in November, signaling broad unease about current and future economic conditions.
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Future outlook weakened: The Expectations Index dropped to 63.2, marking ten months below 80 as consumers grew less hopeful about job and income prospects.
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Spending plans scaled back: Plans for major purchases and services declined, particularly for vehicles and home appliances, though restaurant and travel spending remained top priorities.
