Consumer confidence falls to lowest level since April as Americans worry about inflation and jobs

"The Conference Board said Tuesday that its consumer confidence index dropped to 88.7 in November from an upwardly revised October reading of 95.5, the lowest reading since April, when President Donald Trump announced sweeping tariffs that caused the stock market to plunge. The figures suggest that Americans are increasingly wary of high costs and sluggish job gains, with perceptions of the labor market worsening, the survey found."

"Earlier Tuesday, a government report showed that retail sales slowed in September after healthy readings over the summer. While economists forecast healthy growth for the July-September quarter, many expect a much weaker showing in the final three months of the year, largely because of the shutdown. Less-confident consumers may spend less, though the connection isn't always clear. In recent years, consumer spending has held up even when the available data suggests they've grown more anxious."

U.S. consumer confidence dropped to 88.7 in November from a revised 95.5 in October, the lowest level since April. Consumers reported greater unease about high costs and sluggish job gains, and perceptions of the labor market deteriorated. The decline in confidence extended across political affiliations and was particularly sharp among independents, posing potential political challenges for the president and congressional Republicans. Retail sales slowed in September, and many economists expect weaker economic growth in the final quarter largely because of the shutdown. Measures of job availability worsened, increasing downside risks to consumer spending despite recent resilience.

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