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U.S. consumer sentiment index rises less than expected in early November
A report from
the University of Michigan revealed on Friday the preliminary reading for the
Reuters/Michigan index of consumer sentiment rose to 95.7 in early November.
Economists had expected the index would increase to 95.9 this month from October’s final reading of 95.5.
According to the report, the index of current U.S. economic conditions decreased to 110.9 in November from 113.2 in the previous month. Meanwhile, the index of consumer expectations grew to 85.9 this month from 84.2 in October.
Consumers did voice a slightly more positive outlook for the economy, which was offset by a slightly less favorable outlook for their own personal finances, the report noted. At the same time, spontaneous negative references to tariffs were still mentioned by one-in-four consumers in early November, while references to the impact of impeachment on economic prospects were virtually non-existent, mentioned by less than 2% in October and November.
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