In November 2025, U.S. consumer confidence experienced a notable decline, with the Conference Board reporting a decrease in its consumer confidence index to 88.7, down from an upwardly revised 95.5 in October. This marks the second-lowest reading since April, a period characterized by economic disruptions linked to previous tariff announcements by former President Donald Trump, which adversely affected the stock market.

The current figures indicate rising apprehension among consumers regarding increasing costs and stagnant job growth, with perceptions of the labor market deteriorating. This decline in consumer confidence may present political challenges for the Republican Party, particularly among independent voters, as the survey revealed widespread pessimism across various political affiliations.

Additionally, a government report highlighted a slowdown in retail sales for September, following a stronger performance over the summer months. Economists are projecting a weaker economic outlook for the final quarter of the year, largely attributed to the recent federal government shutdown. Dana Peterson, chief economist at the Conference Board, noted that while concerns about the labor market had lessened, they remained significant among respondents, reflecting ongoing economic challenges faced by households. The overall sentiment expressed by consumers was more negative compared to the previous month, underscoring the persistent economic difficulties impacting daily life.