empty
 
 

2017.11.2210:20:00UTC+00U.S. Consumer Sentiment Index Upwardly Revised More Than Expected

Consumer sentiment in the U.S. pulled back by less than initially estimated in the month of November, according to a report released by the University of Michigan on Wednesday.

The report said the consumer sentiment index for November was upwardly revised to 98.5 from the preliminary estimate of 97.8. Economists had expected the index to be upwardly revised to 98.0.

While the consumer sentiment index was upwardly revised by more than expected, it remains below the thirteen-year high of 100.7 seen in October.

"Overall, the Sentiment Index has remained largely unchanged since the start of the year at the highest levels since 2004," said Richard Curtin, the survey's chief economist. "What has changed recently is the degree of certainty with which consumers hold their economic expectations."

He added, "In contrast to the media buzz about approaching cyclical peaks and an aging expansion, with the implication of greater uncertainty about future economic trends, consumers have voiced greater certainty about their expectations for income, employment, and inflation."

The report said current economic conditions index fell to 113.5 in November from 116.5 in October, and the index of consumer expectations dipped to 88.9 from 90.5.

On the inflation front, one-year inflation expectations inched up to 2.5 percent in November from 2.4 percent in October, while five-year inflation expectations edged down to 2.4 percent from 2.5 percent.

  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $8000 more!
    In March we raffle $8000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS


Can't speak right now?
Ask your question in the chat.
Widget callback