Consumer sentiment above expectations in preliminary Nov. read
The University of Michigan's preliminary November consumer sentiment index reading was 98.3, compared to the final October 98.6, and the preliminary October 99.0, according to market sources.
The expectations index was 88.7 compared to the final October 89.3, and the preliminary October 89.1.
The current conditions index was 113.2, compared to the final October 113.1, and the preliminary October 114.4.
Economists polled by IFR Markets had predicted a 98.0 reading for the main index, 114.0 for current conditions and 90.0 for expectations.
The five-year inflation expectation index was 2.6%, compared to 2.4% in October, while the one-year inflation expectation index was 2.8%, compared to 2.9% in October.
The University of Michigan index is not released to the press, but only to paying subscribers.