US consumer sentiment is collapsing: The University of Michigan's Consumer Sentiment Index fell -3.3 points in November, to 50.3, the 2nd-lowest in history. This significantly missed expectations of 53.0 points and marks the 4th consecutive monthly decline. Current conditions dropped -6.3 points, to 52.3, also the lowest in history. Consumer expectations fell -1.3 points, to 49.0, the 3rd-lowest since July 2022. Consumer sentiment is now sitting lower than all previous recessions, including 2008. US consumers feel like we are in a recession.