Low Consumer Sentiment Shows Voters' Discontent -- WSJ

By Matt Grossman

Consumer sentiment logged an unexpected increase to begin November, but is still hovering not far above historically low levels, according to the University of Michigan's monthly survey. It's a sign of the economic discontent that powered Democrats' broad victories in this week's elections.

-- The survey's preliminary November index reading landed at 51, in data published Friday, compared with 48 in the final October reading.

-- Economists surveyed by The Wall Street Journal had expected a decline to 47.5.

-- Interviews took place Oct. 20 and Nov. 2, so they wrapped up before results of Tuesday's election were known.

-- A final November reading, incorporating post-election interviews, will be published later this month.

The Michigan sentiment index has been hovering near historical lows for much of the year. It hit its lowest level on record-44.8-in May, in data stretching back to the 1950s.

"Consumers' comments revealed growing anxiety over a possible AI bubble," the survey's director, Joanne Hsu said. "AI worries, however, were dwarfed by cost of living concerns, which continue to be at the forefront of consumers' minds across the population."

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November 06, 2026 10:25 ET (15:25 GMT)