×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: Consumer | Sentiment | Gloom

Consumer Sentiment Improves but Falls Shy of Estimates

Wednesday, 23 November 2011 10:07 AM EST

U.S. consumer sentiment held up in late November as some of the gloom over the economic outlook ebbed, a survey released Wednesday showed.

The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment came in at 64.1, up from 60.9 the month before.

The index was a hair lower than its preliminary reading of 64.2 and shy of the median forecast of 64.5 among economists polled by Reuters.

"The most important aspect of improved prospects for the economy was that consumers anticipated slight job gains," survey director Richard Curtin said in a statement.

"Consumers were no more positive about the current state of the economy, but they were less likely to expect the economy to worsen in the year ahead."

The survey said only a trivial number of interviews were conducted after the deadlock announcement by the congressional "super committee" charged with reaching a deal on deficit reductions, suggesting consumers had not incorporated the failed efforts into their economic expectations.

Even so, confidence in the ability of current policies to improve the economy has remained at record lows for the past several months and beleaguered consumers are sensitive to setbacks.

The survey's barometer of current economic conditions rose to 77.6 from 75.1, while the gauge of consumer expectations gained to 55.4 from 51.8.

The survey's one-year inflation expectation held steady at 3.2 percent, while the survey's five-to-10-year inflation outlook was also unchanged at 2.7 percent.


© 2023 Thomson/Reuters. All rights reserved.


Economy
U.S. consumer sentiment held up in late November as some of the gloom over the economic outlook ebbed, a survey released Wednesday showed.The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment came in at 64.1, up from 60.9 the...
Consumer,Sentiment,Gloom
239
2011-07-23
Wednesday, 23 November 2011 10:07 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved