NEW YORK (AP) – Consumer sentiment dropped to a three-year low and close to the lowest point ever recorded by the University of Michigan one month into the government shutdown , with pessimism over personal finances and anticipated business conditions weighing on Americans.

The November survey showed the index of consumer sentiment at 50.4, down a startling 6.2% from last month and it plunged nearly 30% from a year ago. PBN Branded Content

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Economists were caught off guard. Those polled had expected a slight month-to-month increase for a reading of 54.2.

“With the federal government shutdown dragging on for over a month, con

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