US Consumer Sentiment Hits Seven-Month High in November
The University of Michigan's survey shows rising optimism, particularly among Republicans, amid easing inflation concerns.
- The University of Michigan's Consumer Sentiment Index rose to 73.0 in early November, marking the highest level since April.
- The expectations index, a measure of future outlook, increased by nearly 6% to 78.5, the highest since July 2021.
- Republicans showed the most significant increase in optimism, with their expectations rising over 17%.
- Year-ahead inflation expectations decreased to 2.6%, the lowest since December 2020, while long-term expectations slightly increased to 3.1%.
- The Federal Reserve has cut interest rates twice since September, with a cautious approach to further reductions signaled by Fed Chair Jerome Powell.