Continuing the downward trend since Trump took office, American consumer confidence has decreased for three consecutive months.

On Friday, the latest data from the University of Michigan in the United States showed that American consumer confidence deteriorated for the third consecutive month in October, reflecting further economic uncertainty amidst the dual pressures of rising inflation and slowing job growth under the shadow of the government shutdown. The overall index was slightly better than market expectations, but still significantly lower than at the beginning of the year and before Trump returned to the White House. The data showed that consumer confidence continued to decline in October, continuing the downward trend that emerged after Trump took office. The lowest point this year approached the low point during the peak of inflation in 2021. The survey also showed that inflation expectations for the next year decreased slightly from 4.7% in September to 4.6%, but still far higher than the current actual inflation rate of 2.9%; long-term inflation expectations remained stable compared to last month. This consumer confidence data is receiving special attention because the government shutdown has led to the temporary suspension of key economic reports on American official employment and inflation. Consumer spending accounts for about two thirds of economic activity in the United States and is an important indicator of economic trends. Experts point out that while government shutdowns typically have limited direct economic impact, the blow to consumer confidence is often significant, thus indirectly suppressing consumer spending. According to analysis by the responsible Federal Budget Committee, during the previous 35-day government shutdown period at the end of 2018 and the beginning of 2019, the American consumer confidence index plummeted by more than 7 points, and similar declines were seen during the three previous shutdowns. Currently, the U.S. government shutdown has entered its 10th day, with no signs of relief in sight as both parties in Congress have failed to pass appropriations bills in seven votes. At this delicate moment, the American economy is facing significant challenges: hiring has significantly slowed, concerns about an economic recession are rising, and inflation has not been fully controlled. Federal Reserve Chairman Powell stated last month that decision makers are trying to guide the economy through a "turbulent period" and are facing a "challenging situation."