A report from
the University of Michigan revealed on Friday the preliminary reading for the
Reuters/Michigan index of consumer sentiment rose to 95.7 in early November.
Economists had
expected the index would increase to 95.9 this month from October’s final
reading of 95.5.
According to
the report, the index of current U.S. economic conditions decreased to 110.9 in
November from 113.2 in the previous month. Meanwhile, the index of consumer
expectations grew to 85.9 this month from 84.2 in October.
Consumers did
voice a slightly more positive outlook for the economy, which was offset by a
slightly less favorable outlook for their own personal finances, the report
noted. At the same time, spontaneous negative references to tariffs were still
mentioned by one-in-four consumers in early November, while references to the
impact of impeachment on economic prospects were virtually non-existent, mentioned
by less than 2% in October and November.