U.S. consumer confidence weakened sharply in November as the University of Michigan Consumer Sentiment Index fell to 50.3, down from 53.6 and below expectations of 53.2. Both key subcomponents declined: the Current Economic Conditions Index plunged to 52.3 from 58.6. Expectations Index slipped to 49.0 from 50.3, reflecting broad concern about the economic outlook.
The survey noted that sentiment deteriorated amid growing anxiety over the federal government shutdown, which has now stretched beyond a month.
Inflation expectations also ticked higher, with the one-year outlook rising to 4.7% from 4.6% in October.
