Consumer sentiment dropped to a three-year low and close to the lowest point ever recorded by the University of Michigan one month into the government shutdown , with pessimism over personal finances and anticipated business conditions weighing on Americans.

What You Need To Know

The University of Michigan's latest consumer sentiment survey shows a three-year low

The survey showed the index of consumer sentiment at 50.4, down 6.2% from last month and nearly 30% from a year ago

The survey Friday also missed the average forecast of 54.2, according to FactSet

One group who is feeling more confident is stock market investors, who posted an 11% increase in sentiment

The November survey showed the index of consumer sentiment at 50.4, down a startling 6.2% from last month and it plunged

See Full Page