The University of Michigan commented: “Consumer sentiment was little changed this month, inching up 1.3 index points from October. In November, sentiment extended a four-month stretch of consecutive incremental increases.”
Current Economic Conditions decreased from 64.9 in October to 63.9 in November, while Index of Consumer Expectations increased from 74.1 to 76.9. According to the report, the Expectations index surged for Republicans and fell for Democrats as they reacted to the results of presidential elections.
Year-ahead inflation expectations declined from 2.7% in October to 2.6% in November. Year-ahead inflation expectations are at their lowest level since December 2020. In the two years prior to the pandemic, year-ahead inflation expectations ranged between 2.3% and 3.0%.
Long-run inflation expectations increased from 3.0% in October to 3.2% in November. The report showed that uncertainty over long-run inflation has also increased. The increase in…
Read More