NMMA reports consumer confidence decline in November

NMMA has revealed that U.S. consumer confidence declined significantly in November, according to new data released by The Conference Board. NMMA shared:

The Consumer Confidence Index fell 6.8 points to 88.7, down from 95.5 in October, marking its lowest level since April. The Present Situation Index slipped to 126.9, reflecting weaker views of current business and labor market conditions, while the Expectations Index dropped to 63.2, its lowest reading this year. The Expectations Index has now remained below the 80-point recession threshold for ten straight months, reinforcing concerns about the economic outlook heading into 2026.

According to The Conference Board, consumers grew more pessimistic about business conditions, job availability and income prospects, noting a sharp drop in expectations for household income after several months of improvement, along with a continued negative outlook for labor market conditions. Inflation, tariffs, trade and political uncertainty remained the most frequently cited economic concerns, with increased mentions of the federal government shutdown. Median 12-month inflation expectations rose to 4.8 percent, signaling persistent pricing pressures.

Views of current and future family financial situations also weakened, with more consumers reporting that they feel financially worse off and a growing share believing the economy is already in recession. Plans for big-ticket purchases, including cars, appliances and electronics, declined, and consumers signaled reduced spending intentions on services such as travel and leisure, shifting more toward essential and lower-cost activities.

The November report signals continued pressure on discretionary spending. As confidence erodes and consumers grow more cautious about income and employment prospects, many are likely to delay or reconsider large purchases, especially those that require financing. Planned reductions in travel and outdoor recreation spending also suggest potential softening in related marine activity.