Story perspectives

Consumer Sentiment Plummets Amid Economic Woes and Shutdown

11/9/2025

Summary

Story summary

The University of Michigan's Surveys of Consumers reports the sentiment index at 50.3, a near-record low, down 6% from October amid economic concerns and the government shutdown.
High prices and fears of rising unemployment contribute to the pessimism, with 71% of respondents expecting job losses next year.
Wealthier respondents reported improved sentiment, but the overall mood remains subdued across demographics.
The final sentiment data will be released on November 21.

History

Historical Context

The Great Recession officially began in December 2007 and lasted until June 2009, marking the worst economic downturn since the Great Depression. Triggered by the subprime mortgage crisis, it led to a peak unemployment rate of 10% in October 2009. Today, consumer sentiment remains fragile, with 71% fearing job losses amid ongoing economic uncertainty and government shutdowns.

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Story summary

The University of Michigan's Surveys of Consumers reports the sentiment index at 50.3, a near-record low, down 6% from October amid economic concerns and the government shutdown.
High prices and fears of rising unemployment contribute to the pessimism, with 71% of respondents expecting job losses next year.
Wealthier respondents reported improved sentiment, but the overall mood remains subdued across demographics.
The final sentiment data will be released on November 21.

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