Continuing the downward trend since Trump's inauguration, U.S. consumer confidence has declined for three consecutive months

In October, U.S. consumer confidence deteriorated for the third consecutive month, reflecting a shaky economic confidence under the pressures of government shutdown, rising inflation, and slowing job growth. The consumer confidence index is below the levels seen earlier this year and before Trump's presidency, approaching the lows of the inflation peak in 2021. Although inflation expectations for the next year have slightly decreased, they remain higher than the current actual levels. The impact of the government shutdown on consumer confidence is significant and may suppress consumer spending. The U.S. economy faces challenges of slowing hiring and rising recession concerns