US consumer sentiment improves a touch in November
US consumer sentiment improved a little in November, according to a preliminary reading from the University of Michigan.
The consumer sentiment index printed at 95.7 from 95.5 in October and 97.5 in November last year, in line with expectations.
The current economic conditions index ticked down to 110.9 from 113.2 in October and 112.3 in November 2018.
Meanwhile, the index of consumer expectations came in at 85.9 for November versus 84.2 the month before and 88.1 last November.
Surveys of Consumers chief economist Richard Curtin said: "Consumers did voice a slightly more positive outlook for the economy, which was offset by a slightly less favourable outlook for their own personal finances.
"Spontaneous negative references to tariffs were still mentioned by one-in-four consumers in early November. References to the impact of impeachment on economic prospects were virtually non-existent, mentioned by less than 2% in October and November. The lack of impact on economic prospects is broadly similar to Clinton's but not Nixon's impeachment inquiry. The critical difference was that during Clinton's impeachment, economic conditions remained very favourable; indeed consumer sentiment was at its most favourable levels ever recorded."
Pantheon Macroeconomics said: "Overall, sentiment remains high, supported by falling gas prices and the strong stock market, though uneasiness over the trade war means that any further improvement in confidence is unlikely. Inflation expectations were unchanged on the 1-year measure, at 2.5%, but the 5-to-10-year measure rose at tenth to 2.4% both are in the lower end of their recent range, but stable."