Consumer sentiment in the United States deteriorated to a one-decade low in November

By: Trademagazin editor Date: 2021. 11. 12. 11:02

As a result of soaring inflation, consumer sentiment in the United States deteriorated to a decade low in November, according to a standard monthly survey by the University of Michigan.

American consumers have been so pessimistic for a long time

According to preliminary data released on Friday, the value of the consumer sentiment index fell to 66.8 points from 71.7 points in October. Analysts expected an increase of 72.4 points.

The value of the indicator has not been so low since November 2011, when it stood at 64.1 points.

Among the sub-indices, the indicator of consumer expectations for the next six months decreased from 67.9 points to 62.8 points, and the value of the sub-indicator reflecting the current situation decreased from 77.7 points to 73.2 points. (MTI)