Concerns over pandemic and election results weigh on expectations for the future.
Consumer sentiment fell in November due to a sharp decline in economic prospects, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index was 76.9 in November, down from 81.8 in October and well below last November’s 96.8. The entire decline was due to the Expectations Index, down to 70.5 in November, from last month’s 79.2 and last year’s 87.3. The Current Conditions Index rose to 87.0 in November, from last month’s 85.9 but still below last year’s 111.6.
The decline was due to the
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