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Value-Hunters Power This Holiday Shopping Season
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December 19, 2025
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December 19, 2025
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4:54Now PlayingNate Shenck, Global Retail Lead at Boston Consulting Group, discusses the state of US consumer spending with the holiday shopping season in full swing.
US consumer sentiment rose in December by less than expected, remaining depressed amid lingering affordability concerns.
The University of Michigan’s final December sentiment index climbed 1.9 points to 52.9, according to a report released Friday. The median estimate in a Bloomberg survey of economists called for a reading of 53.5.
“Despite some signs of improvement to close out the year, sentiment remains nearly 30% below December 2024, as pocketbook issues continue to dominate consumer views of the economy,” Joanne Hsu, director of the survey, said in a statement.
The current conditions gauge slid to a record-low of 50.4, while a gauge of expectations climbed to a four-month high. Consumers’ perception of current buying conditions for big-ticket items deteriorated to the lowest on record.
The high cost of living and angst about the job market are keeping consumer sentiment near record lows. Concerns about personal finances pose a risk to the outlook for household spending which has otherwise held up.
Payroll growth remained sluggish in November and the jobless rate rose to a four-year high of 4.6%. Economists anticipate that job growth will remain tepid next year and the unemployment rate will show little improvement, which could continue to weigh on sentiment.
To help guard against a deterioration in the job market, Federal Reserve officials earlier this month lowered interest rates for a third straight meeting. However, policymakers are divided about the rate outlook for next year as they look to balance support for the job market with concerns about inflation.
While the Michigan survey showed labor market expectations improved slightly this month, nearly two-thirds of respondents still expect unemployment to keep rising over the next year, Hsu said.
Consumers expect prices to rise at an annual rate of 4.2% over the next year, an almost one-year low. And they saw costs rising at an annual rate of 3.2% over the next five to 10 years.
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