U.S. consumer confidence falls to the second lowest level in history, below the 2008 recession level
According to ChainCatcher, the latest data from the University of Michigan shows that the U.S. Consumer Sentiment Index fell by 3.3 points to 50.3 in November, marking the second lowest level in history and significantly below the market expectation of 53.0 points. This is the fourth consecutive monthly decline for the index.
The Current Conditions Index dropped by 6.3 points to 52.3, reaching a historic low; the Consumer Expectations Index fell by 1.3 points to 49.0, the third lowest level since July 2022. Notably, the current Consumer Sentiment Index is now lower than during all previous economic recessions, including the 2008 financial crisis.
Analysts pointed out that although official inflation data shows some easing, the prices of essential goods remain high, causing widespread economic pressure among U.S. consumers. Many believe that the United States is, in fact, already in a recession.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
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