Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment were revised down from an index level of 84.9 to 82.7 in November. Despite the downward nudge, sentiment is still at its highest level in five years. Respondents’ collective judgment on current economic conditions was revised down from 91.3 to 90.7 in November and remains at a post-recession high. The expectations component, which has risen sharply from a recent low of 65.1 in August, was revised down from 80.8 to 77.6 in late November. Median one-year ahead inflation expectations were revised up 0.1 percentage point to 3.1 percent in November, now unchanged from October’s level and down 0.5 percentage points from its recent high. Five- to ten-year ahead expectations were unrevised at 2.8 percent, remaining within its normal range of 2.7 percent to 3.1 percent over the past five years or so.