University of Michigan consumer sentiment for November 2020
- The October index was at 81.8. The preliminary index came in at 77.0 for November
- University of Michigan consumer sentiment 76.9 vs. 77.0 preliminary
- Current conditions 87.0 vs. 86.0 preliminary. Last month 85.8
- Expectations index 70.5 vs. 71.9 preliminary. Last month 71.3
- One year inflation 2.8% vs. 2.8% preliminary
- 5 – 10 year inflation 2.5% vs. 2.6% preliminary
The sentiment index remains below the pre-pandemic lows around the 87 level. The high since the April tumble, has reached 81.8 and October. The dip this month is concerning for the economy, but reflective of the work yet to be done as a result of the Covid pandemic.
Also concerning is the expectations index. After rising just above the swing lows going back to 2015 and 2016 (see chart below). The index has taken a pretty big dip to the downside in November.
