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- Thomson Reuters/University of Michigan preliminary consumer sentiment index climbs to 93.1 in November
Thomson Reuters/University of Michigan preliminary consumer sentiment index climbs to 93.1 in November
The Thomson Reuters/University of Michigan preliminary consumer sentiment index climbed to 93.1 in November from a final reading of 90.0 in October, exceeding expectations for an increase to 91.5.
"Confidence rose in early November mainly due to a stronger outlook for the domestic economy," the Surveys of Consumers chief economist at the University of Michigan Richard Curtin said.
"Two trends dominated the early November data: consumers anticipated somewhat larger income increases during the year ahead as well as expected a somewhat lower inflation rate. This meant that consumers held the most favourable inflation-adjusted income expectations since 2007," he added.
The index of current economic conditions increased to 104.8 in November from 102.3 in October, while the index of consumer expectations rose to 85.6 from 82.1.
The one-year inflation expectations fell to 2.5% in November from 2.7% in October.
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