The latest snapshot on consumer sentiment comes out Friday, from the University of Michigan Survey. It’s been falling for the past few months and now sits near a decades-long low. Meanwhile, the Bureau of Labor Statistics owes shutdown-delayed reports on personal spending and retail sales, for signs of whether consumers pulled back during the shutdown and/or are ramping up spending now.

LendingTree recently surveyed Americans about their personal finances, money coming in and going out every month. “An awful lot of people are saying that the economy is making it more difficult to afford their bills,” said consumer finance analyst Matt Schulz.

Three out of four consumers say that. 

The causes are familiar: tariffs, inflation, high interest rates and debt payments. And, for some, worries about jobs and income.

“Even though the unemployment rate is low, those folks who have lost a job are taking a really long time to find the next one,” Schulz said.

The Conference Board also finds consumers losing confidence in the job market. 

But actually, said Conference Board chief economist Dana M. Peterson, “our own measure of CEO confidence indicates that companies are not looking to let people go. As long as the labor market has been holding up: yes, consumers are expressing concern about affordability and uncertainty, most people are still working and capable of spending.”

The Conference Board does find that consumers plan to spend less on holiday gifts than last year. 

“It’s going to be things that they believe that person needs, rather than wants,” Peterson said.

Except, drill down to what people say they actually intend to purchase? “Toys and vacations and video games, you know, things like that,” Peterson said. As in, discretionary items, not necessities. 

The American consumer, go figure.