NEW YORK - The University of Michigan's preliminary November consumer sentiment index reading was 66.0, compared to the final October 70.6, the preliminary October 69.4, the final September 73.5, and the final August 65.7, according to market sources.
Economists polled by Thomson Reuters had predicted a 71.0 reading for the index.
The expectations index was 63.7, compared to 68.6 in October, 67.6 earlier in the month, 73.5 in September, and 65.0 in August.
The current conditions index was 69.6, compared to 73.7 in October, 72.1 earlier in the month, 73.4 in September, and 66.6 in August.
Economists polled by Thomson Reuters had predicted a 74.0 reading for the current conditions index and 68.9 for the expectations index.
The five-year inflation expectation index was 3.1%, compared to 2.9% last month, and 2.8% in September, while the one-year inflation expectation index was 2.8%, compared to 2.9% last month and 2.2% in September.
The University of Michigan index is not released to the press, but only to paying subscribers.
