According to the University of Michigan, U.S. consumers’ confidence in the current economy decreased for the fourth month straight in November.
Consumer sentiment reportedly fell 5% in November following the U.S. interest rate reaching a 22-year high.
Analysts went on to say that the ongoing wars in Gaza and Ukraine also contributed to consumers’ declining confidence.
However, confidence among “the top tercile of stockholders improved 10%, reflecting the recent strengthening in equity markets.”
