Record-Breaking Government Shutdown Drags Consumer Sentiment to 3-Year Low

The inflation outlook improved among U.S. consumers and remains below the tariff-driven peak earlier this year.

The U.S. Capitol building during the goverment shutdown in Washington. Madalina Kilroy/The Epoch Times

The government shutdown, now in its sixth week, is beginning to take a toll on consumer confidence, according to new survey data from the University of Michigan released on Nov. 7.

U.S. consumer sentiment declined for a fourth straight month in November, with the preliminary index dropping 6 percent, to 50.3 from October’s 53.6, the widely watched monthly survey found. That is the lowest level since June 2022.