US consumer sentiment drops to near record low as shutdown persists

Economic concerns felt by Americans of different ages, incomes and political affiliations, survey finds

The federal government shutdown dragged consumer sentiment in the US to a near record low in November, according to a monthly survey conducted by the University of Michigan.

Consumer sentiment fell about 6% in November, with the consumer sentiment index for November 2025 at 50.3, down from 53.6 in October, nearly three points below expectations. Economists polled by the Wall Street Journal expected a 53.0 index reading.

The monthly index of consumer sentiment was last this low in June 2022, at 50.0, amid inflation during the Covid pandemic. The latest reading is the lowest reported by the index since at least 1978.

“With the federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy,” said Joanne Hsu, director of the survey, in a statement.