USA: household confidence better than expected (UMich)

(CercleFinance.com) - U.
S. consumer confidence improved much more sharply than expected in November, according to the preliminary results of the monthly survey published by the University of Michigan on Friday.

Its confidence index rose for the fourth month in a row, reaching 73 this month, compared with 70.5 in October, when economists had expected it to stand at just 71.

The report, finalized on Monday on the eve of the presidential election, shows that the sub-index measuring consumer expectations jumped to 78.5, from 74.1 the previous month, reaching its highest level since July 2021.

Joanne Hsu, the report's author, attributes this upturn to an improvement in household income expectations.

The component measuring judgment about their current situation, meanwhile, fell slightly to 64.4 from 64.9 in October.

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