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U.S. consumer sentiment dips to lowest since 2022 amid shutdown-fuelled worry
U.
The University of Michigan preliminary consumer sentiment index fell to 50.3 in early November, the lowest level since June 2022, down from 53.6 in October and below the 53.2 forecast.
Households across income groups expressed concern with the labour‐market outlook and the impact of the record shutdown. One notable data point: 62% of respondents expected unemployment to increase - the highest in decades.
Despite still-strong stock market performance, weaker spending intentions among lower-income consumers have raised questions about the depth of economic resilience.