Ekonomické zprávy
12.11.2021

U.S. consumer sentiment index unexpectedly declines in early November

A report from the University of Michigan revealed on Friday the preliminary reading for the Reuters/Michigan index of consumer sentiment declined 6.8 percent m-o-m to 66.8 in early November. This was the lowest print since November 2011.

Economists had expected the index would come in at 72.4 this month, up from October’s final reading of 71.7.

According to the report, the index of current U.S. economic conditions fell 5.8 percent m-o-m to 73.2 in November from 77.7 in the previous month. Meanwhile, the index of consumer expectations plunged 7.5 percent m-o-m to 62.8 this month from 67.9 in October.

Surveys of Consumers chief economist, Richard Curtin, noted that consumer sentiment dropped in early November to its lowest level in a decade due to an escalating inflation rate and the growing belief among consumers that no effective policies have yet been developed to reduce the damage from surging inflation.

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