Surge In ‘Hope’ Lifts UMich Consumer Sentiment In Early November Survey

Surge In ‘Hope’ Lifts UMich Consumer Sentiment In Early November Survey

Preliminary November survey data from the University of Michigan showed overall US consumer sentiment jumped higher, led by ‘hope’ as the Expectations sub-index jumped to the highest since July 2021 (while current conditions dipped)…

Source: Bloomberg

Expectations over personal finances climbed 6% in part due to strengthening income prospects, and short-run business conditions soared 9% in November.

 

Long-run business conditions increased to its most favorable reading in nearly four years.

Inflation expectations were mixed with 12-month expectations dropping to 2.6% – the lowest since Dec 2020 – while the medium-term expectations inched higher…

Source: Bloomberg

The median value of consumers’ equity market holdings hit a new record high but expectations for future performance dipped a little…

Source: Bloomberg

Ironically, Democrats’ confidence rose in the latest survey while Independents tumbled…

Source: Bloomberg

This survey was taken before the election.

Tyler Durden
Fri, 11/08/2024 – 10:07

via ZeroHedge News https://ift.tt/5Fm9ARX Tyler Durden

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