Updated: 25-Nov-25 10:22 ET

November Consumer Confidence

Updated: 25-Nov-25 10:22 ET

Highlights

• The Conference Board's Consumer Confidence Index dropped to 88.7 in November (Briefing.com consensus 93.3) from an upwardly revised 95.5 (from 94.6) in October.
• In the same period a year ago, the index stood at 112.8.

Key Factors

• The Present Situation Index decreased to 126.9 from 131.2.
• The Expectations Index decreased to 63.2 from 71.8, remaining below 80, which is a level that typically signals recession ahead. This index has been below 80 since February 2025.
• Average 12-month inflation expectations held at 5.7%.

Big Picture

• The key takeaway from the report is that there was a further deterioration in the expectations index, with sentiment on business conditions, labor market conditions, and household income all trending negatively. That could portend a slowdown in discretionary spending activity.

Category	NOV	OCT	SEP	AUG	JUL
Conference Board	88.7	95.5	95.6	97.8	98.7
Expectations	63.2	71.8	74.4	74.7	76.0
Present Situation	126.9	131.2	127.5	132.4	132.8
Employment ('plentiful' less 'hard to get')	9.7	10.3	8.7	11.1	11.0
1 yr inflation expectations	5.7%	5.7%	5.8%	6.1%	5.7%