Shopper sentiment tops expectations in November, stays on tempo for finest 12 months since 2000
remained just about unchanged in early November from its October studying,” Richard Curtin, chief economist for the Surveys of Shoppers, mentioned in a press release. “The steadiness of shopper sentiment at excessive ranges acts to masks some necessary underlying shifts. Earnings expectations have improved and shoppers anticipate continued strong progress in employment, however shoppers additionally anticipate rising inflation and better rates of interest.”
The Federal Reserve stored rates of interest unchanged at its assembly this week, however stored the door open for a charge hike in December. The central financial institution has already raised charges 3 times this 12 months.
Curtin added, nevertheless, that the just about unchanged print stored the index on tempo for its finest 12 months since 2000.
The newest take a look at shopper sentiment comes shortly after the U.S. midterm elections. Democrats took management of the Home, whereas Republicans maintained a majority within the Senate. This outcome was largely anticipated by consultants.
Curtin famous that interviews main as much as Friday’s launch went by Wednesday night time, “there was solely a one-day overlap after the mid-term election outcomes had been identified by shoppers.”