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- U.S. consumer sentiment slightly worse than initially estimated in November
U.S. consumer sentiment slightly worse than initially estimated in November
The final
reading for the November Reuters/Michigan index of consumer sentiment came in
at 76.9 compared to a preliminary reading of 77.0 and the October final reading
of 81.8. This was the lowest reading since August.
Economists had
forecast the index to remain unrevised at 77.0.
According to
the report, the index of consumer expectations plunged 11.0 percent m-o-m to 70.5
from October’s final reading of 79.2, while the index of the current economic
conditions rose 1.3 percent m-o-m to 87.0 from October’s final reading of 85.9.
“…the November
data were less optimistic than last month due to the resurgence in covid
infections and deaths as well as partisan shifts due to the outcome of the
presidential election)”, noted Richard Curtin, the Surveys of Consumers chief
economist.
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