Ekonomické zprávy
24.11.2021

U.S. consumer sentiment better than initially estimated in October

The final reading for the November Reuters/Michigan index of consumer sentiment came in at 67.4 compared to a preliminary reading of 66.8 and the October final reading of 71.7. This was the lowest figure since November 2011.

Economists had forecast the index to be revised to 66.9.

The latest Surveys of Consumers of the University of Michigan also revealed that the index of consumer expectations plunged 6.5 percent m-o-m to 63.5 from October’s final reading of 67.9, while the index of the current economic conditions declined 5.3 percent m-o-m to 73.6 from October’s final reading of 77.7.

Commenting on the November data, Richard Curtin, Surveys of Consumers' chief economist, noted that the decline in consumer optimism was due to “a combination of rapidly escalating inflation combined with the absence of federal policies that would effectively redress the inflationary damage to household budgets”.

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