U.S. Consumer Sentiment Fell Again in November But Exceeds Expectations

By: Tomas Ronolski - AllPennyStocks.com News

Friday, November 25, 2022

Amid a landscape of inflation and rising interest rates, consumer sentiment fell again in November although it was stronger than economists expected. The University of Michigan's monthly consumer survey—which measures how consumers feel about the economy, personal finances, business conditions, and buying conditions—showed a reading of 56.8 in November, higher than the forecasted 54.9, but lower than October’s 59.9,

The poll is conducted throughout the month. The preliminary report, released mid-month, reflects sentiment for the beginning of the month, while the final report reflects sentiment throughout the entire month. The final reading in the sentiment poll marked a sizable increase from the initial 54.7 result earlier in the month, likely due to most of the survey being compiled after the recent U.S. elections, suggesting that the split outcome eased the anxiety of some Americans.

Prior to November’s reading, consumer sentiment had risen in August, September and October after falling to a multi-year low in June. June’s reading was 50.0, for comparison, consumer sentiment rose as high as 101.0 in February 2020, just prior to the pandemic shut downs.

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