JP Morgan Asset Management Global Global Strategy Strategist Cavid Kelly assesses the state of the economy, as well as communities and more in making money.
Consumer confidence fell more than expected in November and hit the lowest level since this spring, according to the latest data from the conference board.
The Conference Board reported that its consumer confidence index fell to 88.7 in November from a revised 95.5 and a revised 95.5 in October.
That was below the 93.4 reading the economic reading polled by the LSEG showed in November, and hit the lowest level since April.
Consumers’ written responses to economic factors continued to be reflected in prices and tariffs, tariffs and trade, and politics, with advice from Government shutdown“said Dana Peterson, chief economist at the conference board.
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The Conference Board Consensus Index fell more than expected in November. (Thomas Trutschel / PhotothEk via Getty Images)
“Labor market communications have slowed somewhat but are still visible among all the other often absent themes that have already been identified. The overall tone from November is better than October,” said Peterson.
Consumer confidence fell almost all incoming levelssince consumers earn less than $15,000 it was the only income bracket where they saw an improvement in self-confidence even when they always had the least healthy group.
Confidence also declined on the other side Political partieswith a sharp decline among independent voters. Among the age groups, consumer confidence improved among those under 35, but fell among those above that threshold and among respondents aged 55 and remained very low.
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The conference call expectations index was below the 10-month retracement indicator. (Joe Raedle)
The report showed that consumers’ expectations about falling prices For the following year they are always higher in November, with the average rising to 4.8%.
For 10 consecutive months, the Bounce conference expectations index has been below 80, the threshold below which the gauge signs of recession it is still ahead.
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Consumers are slowly declining with increasing prices and rates. (Victor J. Blue/Bloomberg via Getty Images)
All three indicators of expectations deteriorated in November, with a significant increase in pessimism about business conditions six months from now.
The current situation index has declined as consumers have become more pessimistic about current business and labor conditions.
“The consumer confidence index was much lower than expected in November, with Americans citing shutdowns, prices, currency rates, trade, taxes And the political situation as things go down, “says Raymond James Chief Economist Eugenio Aleman.” This result is in line with our expectations of weaker consumers during the last quarter of the year. “
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Jeffrey Roach, LPL’s chief financial economist, said that, despite the end of official job data, declining metrics like these will put pressure on 2026. “
