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Financial News: U.S. Consumer Sentiment Shows Slight Improvement In Novemb

U.S. Consumer Sentiment Shows Slight Improvement In November

11/08/2019 - 10:33:00 (RTTNews)

(RTTNews) - Consumer sentiment in the U.S. has seen a slight improvement in the month of November, according to preliminary data released by the University of Michigan on Friday.

The report said the consumer sentiment index inched up to 95.7 in November after rising to 95.5 in October. Economists had expected to index to tick up to 95.9.

"The early November reading on consumer sentiment was nearly identical to last month's and the average 2019 level (95.6)," said Surveys of Consumers chief economist Richard Curtin.

He added, "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."

Curtin said one-in-four consumers spontaneously made negative references to tariffs but noted references to the impact of President Donald Trump's impeachment on economic prospects were virtually non-existent.

The report said the index of consumer expectations rose to 85.9 in November from 84.2 in October, while the current economic conditions index fell to 110.9 from 113.2.

On the inflation front, one-year inflation expectations were unchanged from the previous month at 2.5 percent, but five-year inflation expectations crept up to 2.4 percent in November from 2.3 percent in October.

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