U of Michigan Sentiment Index Up in November

Ann Arbor, MI, November 12–The University of Michigan’s preliminary consumer sentiment index rose to 95.5 from 91.7 in October. The increase was the first since July, and followed a four-point jump in the university’s October index between the preliminary release Oct. 15 and the final report on Oct. 29.

Economists, on average, expected a reading of 103.3.

The current conditions element of the index, a measure of how consumers feel about the present state of the economy, dropped to 100.4 in February from a revised 109.5 in January.

The expectations index, measuring consumers’ hopes for the near future, fell to 88.4 from 100.1 in January