The University of Michigan survey was down both on a monthly and annual basis but was better than preliminary results.
Consumer sentiment declined 5% below October, eroding about one-third of the overall gain seen since the historic low in June, according to the University of Michigan Surveys of Consumers.
The Consumer Sentiment Index fell to 56.8 in the November survey, down from 59.9 in October and below last November’s 67.4. The Current Index fell to 58.8, down from 65.6 in October and below last November’s 73.6. The Expectations Index fell to 55.6, down from 56.2 in October and below last
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