The University of Michigan’s preliminary November consumer sentiment index reading was 57.9, compared to the final October reading of 57.6, the preliminary October reading of 57.5, and the final September reading of 70.3, according to market sources.

Economists polled by Thomson Reuters had predicted a 56.0 reading for the index.

The expectations index was 55.7 compared to 57.0 last month, 56.7 at mid-month, and 67.2 in September.

The current conditions index was 61.4, and compared to 58.4 last month, 58.9 in mid-October, and 75.0 in September.

The five-year inflation expectation index was 2.9% in November compared to 2.9% last month, 2.8% earlier in October, and 3.0% in September, while the one-year inflation expectation index was 2.9% in November compared to 3.9% in October, 4.5% in mid-October, and 4.3% in September.

The University of Michigan index is not released to the press, but only to paying subscribers.

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