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US consumer confidence weakens in November amid escalating inflation
Consumer confidence in the US deteriorated in early November with the University of Michigan's Consumer Sentiment Index declining to 66.8 from 71.7 in October. Commenting on the data, "consumer sentiment fell 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," said Richard Curtin, Surveys of Consumers chief economist. "One-in-four consumers cited inflationary reductions in their living standards in November." Further details of the publication ... (full story)
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*MICHIGAN CONSUMER SENTIMENT INDEX DROPS TO 10-YEAR LOW
— lemasabachthani (@lemasabachthani) November 12, 2021
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US Univ. Of Michigan Sentiment Nov P: 66.8 (est 72.5; prev 71.7)
— LiveSquawk (@LiveSquawk) November 12, 2021
- Current Conditions: 73.2 (est 77.2; prev 77.7)
- Expectations: 62.8 (est 68.8; prev 67.9)
- 1-Year Inflation: 4.9% (est 4.9%; prev 4.8%)
- 5-10 Year Inflation: 2.9% (prev 2.9%)
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