US customer sentiment declines in Nov.| MENAFN.COM

Thursday, 08 December 2022 02:03 GMT

US customer sentiment declines in Nov.

(MENAFN) US customer sentiment in November decreased 5 percent against November, based on a survey issued on Wednesday.

The index of consumer sentiment declined 3.1 points to 56.8 this month, in agreement with the University of Michigan's consumer survey closing results, while it reached 59.9 last month.

"Along with the ongoing impact of inflation, consumer attitudes have also been weighed down by rising borrowing costs, declining asset values, and weakening labor market expectations," as stated by Surveys of Consumers Director Joanne Hsu.

The index of current financial conditions fell 6.8 points to 58.8 this month from 65.6 last month.

The index of consumer prospects plummeted 0.6 points to 55.6, from 56.2, during that period.

"Inflation expectations were also little changed from October. The median expected year-ahead inflation rate was 4.9 percent, down slightly from 5.0 percent last month," on the words of Hsu.


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