FOREX TradingCharts.com

Financial News: U.S. Consumer Sentiment Unexpectedly Deteriorates Amid Inf

U.S. Consumer Sentiment Unexpectedly Deteriorates Amid Inflation Concerns

11/12/2021 - 10:24:00 (RTTNews)

(RTTNews) - Reflecting concerns about inflation, the University of Michigan released a report on Friday showing an unexpected slump in U.S. consumer sentiment in the month of November.

The preliminary report said the consumer sentiment index slid to 66.8 in November from a final reading of 71.7 in October. The decrease surprised economists, who had expected the index to inch up to 72.4.

With the unexpected drop, the consumer sentiment index fell to its lowest level since hitting 63.7 in November of 2011.

Surveys of Consumers chief economist Richard Curtin said the deterioration in consumer sentiment was 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."

"One-in-four consumers cited inflationary reductions in their living standards in November, with lower income and older consumers voicing the greatest impact," Curtin said.

He added, "Nominal income gains were widely reported but when asked about inflation-adjusted gains, half of all families anticipated reduced real incomes next year."

One-year inflation expectations inched up to 4.9 percent in November from 4.8 percent in October, while five-year inflation expectations held at 2.9 percent.

The report also showed the current economic conditions index fell to 73.2 in November from 77.7 in October. The index of consumer expectations also dropped to 62.8 from 67.9.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


South Africa Manufacturing Output Drops In October (01 hr(s), 23 min(s), 36 sec(s) ago)
(RTTNews) - South Africa's manufacturing output dropped in October, data from Statistics South ...Full Story»

Ireland Inflation Highest Since June 2001 (01 hr(s), 32 min(s), 36 sec(s) ago)
(RTTNews) - Ireland's consumer price inflation accelerated to the highest since June 2001, dat ...Full Story»

Germany Exports Rebound In October (01 hr(s), 51 min(s), 36 sec(s) ago)
(RTTNews) - Germany's exports grew for the first time in three months in October and also logg ...Full Story»

South Africa Current Account Surplus Falls In Q3 (02 hr(s), 17 min(s), 36 sec(s) ago)
(RTTNews) - South Africa's current account surplus declined in the third quarter, the South Af ...Full Story»

UK House Prices To Continue Rising Next Year: RICS (02 hr(s), 27 min(s), 36 sec(s) ago)
(RTTNews) - UK house prices are expected to increase next year at the national level, the resident ...Full Story»

China Bank Lending Rises Less Than Expected In November (02 hr(s), 51 min(s), 36 sec(s) ago)
(RTTNews) - China's bank lending increased less than expected in November, data from the Peopl ...Full Story»

Slovakia Trade Surplus Falls In October (03 hr(s), 42 min(s), 36 sec(s) ago)
(RTTNews) - Slovakia's trade surplus decreased in October, data from the Statistical Office of ...Full Story»

Hungary Trade Balance Swing To Deficit In October (03 hr(s), 53 min(s), 36 sec(s) ago)
(RTTNews) - Hungary's trade balance swung to deficit in October, preliminary data from the Hun ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

South Africa Manufacturing Output Drops In October

12/09/2021 - 06:34 AM (RTTNews)
(RTTNews) - South Africa's manufacturing output dropped in October, data from Statistics South ...Full Story>>

Ireland Inflation Highest Since June 2001

12/09/2021 - 06:25 AM (RTTNews)
(RTTNews) - Ireland's consumer price inflation accelerated to the highest since June 2001, dat ...Full Story>>

Germany Exports Rebound In October

12/09/2021 - 06:06 AM (RTTNews)
(RTTNews) - Germany's exports grew for the first time in three months in October and also logg ...Full Story>>

South Africa Current Account Surplus Falls In Q3

12/09/2021 - 05:40 AM (RTTNews)
(RTTNews) - South Africa's current account surplus declined in the third quarter, the South Af ...Full Story>>

UK House Prices To Continue Rising Next Year: RICS

12/09/2021 - 05:30 AM (RTTNews)
(RTTNews) - UK house prices are expected to increase next year at the national level, the resident ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.