US Consumer Confidence Plummets in November

Consumer confidence in the U.S. plummeted in November, dropping to 88.7, a significant decrease from 95.5 in October. This decline, coupled with negative job market expectations and diminished hopes for higher incomes, marks the lowest consumer confidence reading of the year. The cost of living has surged, particularly for essentials like groceries and healthcare, contributing to the gloomy outlook. The job market remains in a low-hire, low-fire environment, with job growth stagnant and unemployment slightly increased.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.