WASHINGTON (MNI) – U.S. consumer sentiment ended November lower
than expected but is still the highest level since June, according to
the Reuters/University of Michigan Consumer Sentiment survey released
Wednesday.
The revised November consumer sentiment index came in at 64.1,
below median expectations of 64.5 in a Market News International survey
of economists, and compared to 64.2 in the preliminary report. The
consumer sentiment index was 60.9 in October and 59.4 in September.
The index’s final measure of how consumers view current conditions
came in at 77.6 — also the highest since June — an increase from 76.6
in November’s preliminary report. The index was 75.1 in October and 74.9
in September.
November’s gauge of consumers’ expectations of future conditions
was revised to 55.4, down 0.8 points from the initial figure of 56.2,
but the highest level since July. This after coming in at 51.8 in
October and 49.4 in September.
According to the final report, consumers’ 12-month economic outlook
rose to 52.0 vs. 45.0 in October and from 39.0 in September. It was 40.0
in August.
Consumers’ final 1-year inflation expectations for November was
unrevised at 3.2%. This is the same as in October. The expectation was
for 3.3% in September. Final five-year inflation expectations are at
2.7% in November, up from the preliminary expectation of 2.6% but the
same as October’s expectation of 2.7%.
** Market News International Washington Bureau: 202-371-2121 **
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