U.S. Consumer Sentiment Sours More Than Forecast in November
(Bloomberg) -- U.S. consumer sentiment declined more than forecast in November as Americans’ views about the economy deteriorated amid rising interest rates and slumping stocks.
The sentiment index dropped to 97.5, the lowest level since August, from the prior month’s 98.6, according to a University of Michigan report Wednesday. The median estimate of economists surveyed by Bloomberg was 98.3, which was also the preliminary reading released earlier this month. The gauge of current conditions decreased to 112.3, while the expectations index slipped to 88.1 -- also three-month lows.