U.S. consumer sentiment weakened to the lowest level in nearly 3-1/2 years in early November amid worries about the economic fallout from the longest government shutdown in history, a survey showed on Friday.

The University of Michigan’s Surveys of Consumers said its Consumer Sentiment Index fell to 50.3 this month, the lowest level since June 2022, from a final reading of 53.6 in October.

Economists polled by Reuters had forecast the index would dip to 53.2.

“With the federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy,” Joanne Hsu, the director of the Surveys of Consumers, said in a statement. “This month’s decline in sentiment was widespread throughout the population, seen across age, inc

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