The University of Michigan’s consumer sentiment index fell to 50.3 in November, marking a nearly three-and-a-half-year low. The index is considered the benchmark for Americans’ confidence in economic conditions, and this drop — a 29.9% fall from last November — could signal that people are wary of spending their money.

What did the commentators say?

With the “federal government shutdown dragging on for over a month, consumers are now expressing worries about potential negative consequences for the economy,” Joanne Hsu, the director of surveys of consumers at the University of Michigan, said in a statement . This did not appear unique to any one demographic, as the “decline in sentiment was widespread throughout the population, seen across age, income, and political affiliation.”

The

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