US Consumer Confidence Lowest Since Jun. 2022, Inflation Expectations Edge Down in Nov
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US one-year inflation expectations for November initially estimated at 4.7%, expected 4.6%, down from prior 4.60%; five-to-ten-year expectations initially at 3.6%, expected 3.8%, down from prior 3.90%.
The University of Michigan's US consumer confidence index for November had an initial value of 50.3, marking its lowest level since June 2022. The expected value was 53.2, with the previous reading at 53.6.
| Event | Actual | Previous | Consensus | Forecast |
|---|---|---|---|---|
| Used Car Prices MoM OCT | -2% | -0.2% | ||
| Used Car Prices YoY OCT | 0% | 2% | ||
| Michigan Consumer Sentiment Prel NOV | 50.3 | 53.6 | 53.2 | 53 |
| Michigan 5 Year Inflation Expectations Prel NOV | 3.6% | 3.9% | 3.9% | |
| Michigan Consumer Expectations Prel NOV | 49.0 | 50.3 | 50.3 | 50.1 |
| Michigan Current Conditions Prel NOV | 52.3 | 58.6 | 59.2 | 58 |
| Michigan Inflation Expectations Prel NOV | 4.7% | 4.6% | 4.6% |