The Consumer Sentiment Index in the United States observed a monthly decrease of 3.9% in November to hit 61.3 points, the University of Michigan revealed in its final report published on Wednesday. Year over year, however, the reading grew 8.1%. Both figures came in higher than was anticipated in the preliminary report.
The Current Economic Conditions Index came in at 68.3 in November, seeing a monthly fall of 3.3% but an annual jump of 16.4%. The Index of Consumer Expectations stood at 56.8, 4.2% lower than the previous month's number and increasing 2.3% compared to November 2022.
"While this marks the fourth consecutive month of declines, November's reading reflects a balance of factors, some of which improved while others worsened," Surveys of Consumers Director Joanne Hsu noted.
