The University of Michigan released a report on Wednesday showing consumer sentiment in the US decreased by slightly less than initially estimated in the month of November. The report said the consumer sentiment index for November was upwardly revised to 67.4 from the preliminary reading of 66.8. However, the consumer sentiment index was still down from 71.7 in October and was at its lowest level since hitting 63.7 in November of 2011. Consumers one-year inflation expectations edged up to 4.9% in November from 4.8% in October, while five-year inflation expectations crept up to 3% from 2.9%.
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