According to an article published on the X platform by The Kobeissi Letter, the University of Michigan Consumer Sentiment Index fell 3.3 points to 50.3 in November, the second lowest on record and below the expected 53.0, marking the fourth consecutive month of decline. The Current Conditions Index fell 6.3 points to 52.3, a record low. The Consumer Expectations Index fell 1.3 points to 49.0, the third lowest since July 2022. Current consumer confidence is lower than during all historical recessions, including 2008.