President Trump talks about affordability at McDonald’s forum
Trump joked that he was the “first former McDonald’s fry cook” to become president.
U.S. consumer sentiment fell to its lowest level in November as Americans entered the holiday season and prepared for Black Friday, according to a monthly survey.
The Consumer Sentiment Index released by the University of Michigan Consumer Survey on November 21 was 51, higher than the preliminary reading of 50.3 two weeks ago, but down from 53.6 in October. The announcement showed that consumer sentiment remains near historic lows. The index hit an all-time low of 50 in June 2022.
However, Director of Consumer Research Joan Hsu said consumer sentiment was “very much unchanged” in November, noting that the index’s 2.6 drop from October was within the margin of error. Still, the numbers reflect consumers’ continued concerns about affordability.
“After the federal shutdown ended, sentiment rose slightly from mid-month numbers,” Suh said in a statement. “However, consumers remain dissatisfied with continued high prices and declining incomes.”
The index measures how Americans feel about their personal finances and the economy as a whole, gauging consumers’ optimism or pessimism, which can influence spending. It fell in the first four months of 2025, was flat in May, rose in June and July, and has declined every month since then.
“By the end of the month, consumer sentiment, which holds the largest stocks, lost the gains seen in the preliminary numbers,” Su said. “Sentiment in this group has declined by about 2 index points since October, likely due to the stock market decline seen over the past two weeks.”
However, the expectations index for November was 51, slightly up from 50.3 in October. Tracks how consumers view their financial health and the overall economic outlook in the short and long term. Expectations have fallen by 33.7% since November 2024.
Expectations for last year’s inflation also fell slightly, falling to 4.5% from 4.6% in October.
Contact Rachel Barber rbarber@usatoday.com X Follow her at @rachelbarber_
