UMich November prelim consumer sentiment 73.0 vs 71.0 expected

Guess what happens next?

The interviews for this survey concluded before the election but we’ll see a shift in the final number and a bigger one next month.

• Current conditions 64.4 vs 64.9 prior
• Expectations 78.5 vs 74.1 prior
• 1-year inflation 2.6% vs 2.7% prior (lowest since Dec. 2020)
• 5-year inflation 3.1% vs 3.0% prior

This indicator used to be very useful but in a hyper-polarized world it now offers very little predictive power on consumer spending.

This article was written by Adam Button at www.forexlive.com.