U.S. Consumer Sentiment Shows Improvement In November

(RTTNews) - Consumer sentiment in the U.S. improved in the month of November, according to revised data released by Thomson Reuters and the University of Michigan on Wednesday.

The report said the final reading on the consumer sentiment index for November came in at 75.1, reflecting a substantial upward revision from the preliminary reading of 72.0.

With the upward revision, the consumer sentiment index for November came in above the October reading of 73.2.

The increase by the headline index came as the survey's gauge of consumer expectations for November was upwardly revised to 66.8 from 62.3, coming in well above the 62.5 reported for October.

On the other hand, the index of current economic conditions for November was upwardly revised to 88.0 from 87.2 but still came in below October's 89.9.

The report also showed that one-year inflation expectations fell to 2.9 percent in November from 3.1 percent in October. The five-to-ten-year inflation outlook was unchanged at 2.9 percent.

On Tuesday, the Conference Board released a separate report that unexpectedly showed a continued decrease in U.S. consumer confidence in November.

The Conference Board said its consumer confidence index dipped to 70.4 in November from an upwardly revised 72.4 in October.

The decrease came as a surprise to economists, who had expected the index to climb to 72.9 from the 71.2 originally reported for the previous month.