Consumer Sentiment Decline Continuing in November

University of Michigan reports sentiment recorded declines in preliminary November results both month over month and year over year.

Consumer sentiment was down sharply in mid-November, declining 3.3 index points from October, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index fell to 50.3 in early November, down 6.2% from 53.6 in the October survey, and 29.9% below the 71.8 sentiment index result in November 2024.

Consumer sentiment is considered a leading indicator of economic activity. Sentiment levels can also impact consumer’s willingness to make large purchases such as automobiles.

According to Surveys of Consumers Director