One Turn
US consumer sentiment falls to near-record low before midterms
US consumer sentiment fell to a near-record low, with independent voters showing strong economic anxiety. A CNBC survey found eight in ten Americans rate the economy fair or poor and Trump's approval on the economy at an all-time low, with corruption ranking as voters' top issue.
Why it matters
Weak household confidence can slow consumer spending, the largest part of the US economy.
Background
Fuel and living costs have risen alongside the war with Iran. Economic conditions are a central issue in the November 3 midterm elections.
The story so far
- US weekly jobless claims fall to near 60-year low
- US consumer sentiment falls to near-record low before midterms
Sources
- Al Jazeera ↗Oct 23, 1:26 PM ET
- CNBC ↗Oct 22, 9:18 AM ET
- CNBC ↗Oct 23, 2:51 PM ET
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