The University of Michigan consumer sentiment index fell to 50.3 in November, the second lowest on record.

The Kobeissi Letter, in an article published on the X platform, stated that the University of Michigan Consumer Sentiment Index for November fell 3.3 points to 50.3, the second lowest on record, below the expected 53.0, and marking the fourth consecutive month of decline. The Current Conditions Index fell 6.3 points to 52.3, a record low. The Consumer Expectations Index fell 1.3 points to 49.0, the third lowest since July 2022. Current consumer confidence is lower than during all historical recessions, including 2008.