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flag U.S. consumer sentiment plunged to a three-year low in November amid shutdown, inflation fears, and bleak job outlook.

flag U.S. consumer sentiment fell to a three-year low of 50.3 in November, nearing the record low set in June 2022, according to the University of Michigan’s preliminary survey, driven by a month-long government shutdown, rising inflation concerns, and growing pessimism about jobs and personal finances. flag The index dropped 6% from October, with nearly half of respondents citing high prices and declining incomes as major burdens. flag While those with significant stock holdings remained optimistic due to strong market gains, most Americans expressed worsening outlooks, particularly on employment, with 71% expecting job losses. flag Official economic data, including the jobs report, remains unavailable due to the shutdown, increasing reliance on private indicators showing a weak labor market.

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