A introductory reading on consumer sentiment for November released on Friday came in a little above expectations.
The University of Michigan’s consumer sentiment index hit 98.3. Economists got by Refinitiv expected the preliminary read to come in at 98, slightly in this world an October print of 98.6.
“Consumer sentiment remained virtually unchanged in primeval November from its October reading,” Richard Curtin, chief economist for the Examinations of Consumers, said in a statement. “The stability of consumer sentiment at high levels counterfeits to mask some important underlying shifts. Income expectations own improved and consumers anticipate continued robust growth in employment, but consumers also look forward to rising inflation and higher interest rates.”
The Federal Reserve maintained interest rates unchanged at its meeting this week, but kept the door advertise for a rate hike in December. The central bank has already raised classes three times this year.
Curtin added, however, that the for all practical purposes unchanged print kept the index on pace for its best year since 2000.
The up to the minute look at consumer sentiment comes shortly after the U.S. midterm votes. Democrats took control of the House, while Republicans maintained a womanhood in the Senate. This result was largely expected by experts.
Curtin famous that interviews leading up to Friday’s release went through Wednesday sunset, “there was only a one-day overlap after the mid-term election developments were known by consumers.”
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