Name: Consumer confidence in U.S. economy is near record-lows, survey shows
Uploaded: 2025-11-10T00:58:59.797Z
Duration: 2 min
Description: A recent survey shows consumer confidence in the economy is near record-low amid the ongoing government shutdown. Andres Gutierrez is in Burbank, California, with the details.

A recent survey shows consumer confidence in the economy is near record-low amid the ongoing government shutdown. Andres Gutierrez is in Burbank, California, with the details.

Burbank

A new survey indicates that consumer confidence in the U.S. economy has fallen to near record lows, influenced by the ongoing government shutdown and persistent inflation. Many Americans are responding by reducing discretionary spending, particularly on dining out, which has led to a nearly 40% decline in restaurant visits compared to the previous year.

Major fast food chains, such as Wendy's and McDonald's, are adjusting their business strategies in response to declining sales and shifting consumer behavior. At the same time, households are taking on higher credit card debt, and the average age of first-time homebuyers has reached a record high, reflecting broader financial challenges across the country.

Consumer confidence in U.S. economy is near record-lows, survey shows

The ongoing government shutdown is taking a bite out of consumer confidence. A survey out Friday shows its near record lows. CBS is Andres Gutierrez is in Burbank and shows us how some Americans financial belts are really starting to tighten up Andres. Good evening, Jerica. Many folks out there are feeling squeezed by higher prices and so they're cutting back on eating out. One study shows a nearly 40% decline from a year ago, and that's putting pressure on restaurants to deliver value. For fast food giants, it's getting hard to keep customers coming back. Last week, Wendy's announced plans to close hundreds of locations, blaming a summer sales slump of nearly 5%. McDonald's is looking to boost sales by lowering the prices of some menu items by as much as 15%. The company is asking franchise owners to eat those costs to keep diners happy. McDonald's has brought back their extra value menu to lower costs. Is it helpful? Oh, yeah. Look how busy they are. They've got a line of cars here all day long. My 92 year old mother goes to McDonald's. The discounts come as many households are increasingly relying on credit cards. The average balance is now more than $6,000. That's a 10 year high, and more Americans are finding the dream of owning a home out of reach. How many bedrooms is it? Three bedrooms in Los Angeles. Liv Raphael is looking to buy her first home frustrated in her year long search. They're out of the budget. First time home buyers are older than ever. The average age is now 40, a record, meaning young shoppers are frozen out. Interest rates, I think, have kind of held people back and also the prices. They just kind of keep going up. So that has kind of put a pause on a lot of people searches. Right now, executives at several fast food chains say the biggest drop is in younger customers. Diners 25 to 35. The reason growing financial pressure. Jerrica. All right, Andres, thank you so much.

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