Sunday, 28 November 2021 06:31 GMT

American Consumer sentiment drops to lowest levels in decade

(MENAFN) According to figures published by the University of Michigan on Wednesday, market sentiment in the United States has dropped drastically to the weakest level in 10 years, owing to concerns regarding higher inflation.

The last outcomes of a poll of about 500 consumers showed, the consumer sentiment index fell 4.3 points to 67.4 during November, down from 71.7 last month.

In November, the present financial circumstances index dropped 4.1 points to 73.6, less than October’s 77.7. During this month, the market expectations index decreased by 4.4 points to 63.5, less than 67.9 in the previous month.

Richard Curtin, senior economic expert at Surveys of Consumers, stated: "Consumers expressed less optimism about prospects for their own finances as well as the overall economy in the November 2021 survey than at any other time in the past decade."

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