The State of the Economy for November 2025

Consumer expectations for six months in the future continued to worsen in November, and confidence fell to its second-lowest level this year. Will holiday spending turn the tide on this rising pessimism?

Join Dana M Peterson, Chief Economist and Center Leader of the Economy, Strategy & Finance Center, and Malala Lin, Economic Research Associate, both of The Conference Board, to find out how consumers are approaching holiday shopping this year, whether and how tariffs are factoring into their spending, and why health care costs are increasingly top of mind.

For more from The Conference Board:

• US Consumer Confidence

• Forecast for the US Economy

• Global Economic Outlook