Jobs and income weigh heavily on consumer confidence, as the ability to pay essential expenses have become more burdensome for millions of Americans. Consistent inflationary pressures continue to drain consumers while leaving less for discretionary expenditures such as eating out and movies.

Consumer sentiment fell for the first time in three months as frustrations with lingering inflation and a weakening employment market pressured consumers to redirect their funds and cut certain expenses.

Some economists believe that the uncertainty surrounding the presidential election has also been a factor over the past few months, as future tax rates and economic growth remained elusive and not defined.

Sources: University of Michigan

Print Version: Consumer Sentiment Nov 2024

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