U.S. Consumer Sentiment Pulled Back in November
November 22 2017 - 10:45AM
Dow Jones News
By Ben Leubsdorf
A measure of U.S. consumer sentiment pulled back in November but
remained high, a sign of still-solid economic optimism headed into
the holiday shopping season.
The University of Michigan on Wednesday said its
consumer-sentiment index was 98.5 in November, up from a
preliminary reading of 97.8 but down from 100.7 in October.
Economists surveyed by The Wall Street Journal had expected a
final November reading of 98.0.
Gauges of business and household confidence jumped following
last year's presidential election. Economic growth has been solid
for much of 2017 and the unemployment rate fell in October to 4.1%,
its lowest level in nearly 17 years. The stock market also has hit
new highs.
"In contrast to the media buzz about approaching cyclical peaks
and an aging expansion, with the implication of greater uncertainty
about future economic trends, consumers have voiced greater
certainty about their expectations for income, employment and
inflation," said Richard Curtin, the survey's chief economist.
Write to Ben Leubsdorf at ben.leubsdorf@wsj.com
(END) Dow Jones Newswires
November 22, 2017 10:30 ET (15:30 GMT)
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