Several wrapped Christmas presents.

By Chris Spiker From Daily Voice

Consumer confidence has plummeted to its lowest level since the spring as the holiday shopping season begins, according to new data.

The Consumer Confidence Index fell to 88.7 in November, The Conference Board said on Tuesday, Nov. 25. That's down from 95.5 in October and the lowest since the metric dropped to 86.0 in April, shortly after President Donald Trump announced his "Liberation Day" tariffs that shook the economy.

The closely watched data comes days before Black Friday and Cyber Monday help kick off the busy holiday shopping season.

"Consumers' write-in responses pertaining to factors affecting the economy continued to be led by references to prices and inflation, tariffs and trade, and politics, with increased mentions of the federal government shutdown," said Dana Peterson, chief economist at The Conference Board.

Americans remain pessimistic about the weakened labor market, with 27.6% of consumers saying jobs were "plentiful" in a slight dip from October. Just 14.6% said they expected more jobs to become available, down from 15.8% in October.

The Expectations Index dropped to 63.2, marking the tenth straight month below 80, a level linked with future recession risk.

"Consumers were notably more pessimistic about business conditions six months from now," Peterson said. "Mid-2026 expectations for labor market conditions remained decidedly negative, and expectations for increased household incomes shrank dramatically, after six months of strongly positive readings."

Plans to buy big-ticket items such as cars, appliances, and electronics also declined in November. Travel expectations dropped as well, with fewer people planning hotel stays or airfare purchases.

The Conference Board's findings mirror other projections showing Americans tightening their budgets ahead of the holidays. A Deloitte report found that shoppers expect to spend 4% less during Black Friday and Cyber Monday in 2025, the first decline after four straight years of growth.

A WalletHub holiday survey also showed that 65% of Americans say the "Grinch Economy" will make the season "less fun," with many families worrying about rising prices, Trump's tariffs, and shrinking paychecks.