U.S. consumer confidence fell sharply in November, with the Conference Board Consumer Confidence Index dropping -6.8 pts to 88.7 (from 95.5 in October), reflecting broad deterioration across assessments of current conditions and expectations.

• The Present Situation Index declined -4.3 pts to 126.9, as fewer consumers viewed business conditions as “good” (19.1 percent vs 20.7 percent) and more viewed them as “bad” (14.9 percent vs 14.5 percent).

• The Expectations Index fell -8.6 pts to 63.2, remaining below the recession-signal threshold of 80 for the tenth straight month, with weaker outlooks for business conditions, jobs, and incomes.

• Labor market perceptions softened: the “jobs plentiful” share dropped to 27.6 percent (from 28.6 percent), while “jobs hard to get” dipped to 17.9 percent (from 18.3 percent), continuing a year-long downward drift in the labor differential.

• Income expectations weakened materially, with only 13.3 percent expecting higher incomes (from 18.2 percent) and 13.8 percent expecting declines (from 11.8 percent), marking the sharpest pullback in six months.

• Inflation expectations stayed elevated, with median 12-month expectations rising to 4.8 percent, while about half of consumers anticipated higher interest rates ahead.

• Assessments of current family finances fell to their lowest level since August 2024, while expectations for future finances also worsened, reflecting more cautious household sentiment.

• Buying plans for big-ticket goods declined, including autos, major appliances, and electronics, and intentions to travel or spend on most services moved lower after a brief October rebound.