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Economy in Brief

November U.S. Consumer Sentiment Rebounds Slightly
by Sandy Batten  November 27, 2013

Consumer sentiment from the Reuters/University of Michigan survey rebounded slightly in the second half of November - to 75.1 from the early-November reading of 72.0 and October's 73.2. The market consensus had looked for a slightly smaller rise. Notwithstanding the modest rebound and apart from October, the November reading was the lowest since January.

The November rebound was due entirely to an increase in the expectations component as respondents' views on current conditions continued to deteriorate. The current conditions index fell to 88.0 in November, its lowest reading since January, while the expectations index rose more than 4 points to 66.8.

Sentiment of the bottom two-thirds of the income distribution continued to fall while sentiment of the top third rose for the first time in five months. By age, sentiment of 18-34 year olds fell to its lowest level since June 2012, and sentiment of 34-55 year olds fell to its lowest level since December 2011. In contrast, sentiment of those above 55 jumped nearly 5 points.

As always, please note that these data are not seasonally adjusted. They can be found in Haver's USECON and UMSCA databases.

Reuters/University of Michigan (Q1'66 = 100) Nov Oct Sep Nov'12 2012 2011 2010
Consumer Sentiment 75.1 73.2 77.5 82.7 76.5 67.3 71.8
 Current Economic Conditions 88.0 89.9 92.6 90.6 85.6 79.1 80.9
 Consumer Expectations 66.8 62.5 67.8 77.7 70.7 59.8 66.0
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