Consumer confidence in the US declined for the fifth month in a row, and respondents' views on the labor market and business environment turned pessimistic. According to data released by the World Federation of Large Enterprises on Tuesday, the consumer confidence index fell to 89.1 from 92.9 the previous month, the longest period of decline since 2008. The current status indicator, which reflects the current situation, fell to 116.8, the lowest level since February 2021; while the expected indicator, which reflects the outlook for the next six months, remained unchanged in December. High prices and concerns about the labor market continued throughout the year, suppressing consumer confidence, and the index has been hovering near its lowest level since the pandemic. Employment growth is weak, unemployment is rising, and inflation is still higher than the Federal Reserve's target. Economists expect recruitment activity to remain moderate next year, with limited improvement in the unemployment rate, which may continue to drag down consumer confidence. They also expect wage growth to slow further in 2026, which may increase consumption differentiation among different income groups.

Consumer confidence in the US declined for the fifth month in a row, and respondents' views on the labor market and business environment turned pessimistic. According to data released by the World Federation of Large Enterprises on Tuesday, the consumer confidence index fell to 89.1 from 92.9 the previous month, the longest period of decline since 2008. The current status indicator, which reflects the current situation, fell to 116.8, the lowest level since February 2021; while the expected indicator, which reflects the outlook for the next six months, remained unchanged in December. High prices and concerns about the labor market continued throughout the year, suppressing consumer confidence, and the index has been hovering near its lowest level since the pandemic. Employment growth is weak, unemployment is rising, and inflation is still higher than the Federal Reserve's target. Economists expect recruitment activity to remain moderate next year, with limited improvement in the unemployment rate, which may continue to drag down consumer confidence. They also expect wage growth to slow further in 2026, which may increase consumption differentiation among different income groups.