Donald Trump is facing political challenges as US consumer confidence dropped sharply to 88.7 in November, the lowest level since April, amid unemployment rising to 4.4% and retail sales growing just 0.2% in September, mainly driven by higher-income consumers.
The 43-day government shutdown, inflation, and tariffs have led to delays in key economic data releases, such as the Consumer Price Index for October, while producer price index rose 0.3% and core PPI increased 0.1%, pointing to mixed inflation pressures. Despite the US economy estimated to have grown around 3% in the third quarter, forecasts predict a slowdown in the final quarter, and retailers expect winter holiday sales to cross $1 trillion, although households remain cautious because of affordability concerns.