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US consumer sentiment records slight change in early November

US consumer sentiment records slight change in early November

Mubasher: Preliminary reading by the University of Michigan suggested that the US consumer sentiment almost stabilised in early November.

The consumer sentiment index edged up to 95.7 points in early November, compared with 95.5 last October, the university’s survey report showed on Friday.

“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,” survey chief economist Richard Curtin said.

However, assessment of current economic conditions also improved with the gauge plunged by 2% to 110.9 points month-on-month in early November, with a 1.2% year-on-year decline.

Nevertheless, expectation index rose by 1.7% month-on-month to 85.9 points earlier this month from 84.2, but the index recorded a 2.5% year-on-year drop.

By 3:04 pm GMT, the US dollar index rose by 0.17% to 98.3130.