University of Michigan consumer sentiment for November preliminary
- University Michigan consumer sentiment preliminary 77.0 vs. 82.0 estimate. Last month 81.2
- expectations index falls to 71.3 from 79.1 estimate. Last month 79.2
- one year inflation expectations 2.8% vs. 2.6% last month
- 5 -10 year inflation expectations 2.6% vs. 2.4% last month
The index is at the lowest level since August when the index was at 74.1. The low for the year came in at 71.8.
Interviews conducted following the election recorded of substantial negative shift in Republicans expectations and no gain among Democrats. The survey began on October 28 and concluded late on November 10.
Richard Curtin, director of the survey said: "In the months ahead, the partisan gap is likely to enlarge, although the gains will be limited until a potential vaccine is approved and widely distributed".
