Economic Buzz: US Consumer Sentiment Revised To 56.8 In November

24 Nov 2022 , 08:27 AM

Consumer sentiment in the U.S. deteriorated less than initially estimated in the month of November, according to revised data released by the University of Michigan. The report showed the consumer sentiment index for November was upwardly revised to 56.8 from the preliminary reading of 54.7. Despite the bigger than expected upward revision, the consumer sentiment index was still well below the final October reading of 59.9. The University of Michigan said the current economic conditions index slumped to 58.8 in November from 65.6 in October, while the index of consumer expectations edged down to 55.6 from 56.2. Meanwhile, the report showed one-year inflation expectations dipped to 4.9 percent in November from 5.0 percent in October, but five-year inflation expectations inched up to 3.0 percent from 2.9 percent. Powered by Commodity Insights