Updated: 08-Nov-24 10:15 ET

November Univ. of Michigan Consumer Sentiment - Prelim

Updated: 08-Nov-24 10:15 ET

Highlights

• The preliminary University of Michigan Index of Consumer Sentiment for November jumped to 73.0 (Briefing.com consensus 70.6) from 70.5 in October.
• In the same period a year ago, the index stood at 61.3.

Key Factors

• The Current Economic Conditions Index dipped to 64.4 from 64.9 in October. In the same period a year ago, the index stood at 68.3.
• The Index of Consumer Expectations jumped to 78.5 from 74.1 in October. In the same period a year ago, the index stood at 56.8.
• Year-ahead inflation expectations came down to 2.6% from 2.7%. That is the lowest since December 2020.
• Five-year inflation expectations edged up to 3.1% from 3.0%.

Big Picture

• The key takeaway from the report is that the responses were tabulated before the election results and reveal that consumers were already feeling more upbeat about their income prospects and short-run business conditions. T

Category	NOV	OCT	SEP	AUG	JUL
Sentiment	73.0	70.5	70.1	67.9	66.4
Outlook	78.5	74.1	74.4	72.1	68.8
Present conditions	64.4	64.9	63.3	61.3	62.1