Decline in US consumer confidence in November exceeded forecasts

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In November, the US consumer confidence index was 97.5 points, down from 98.6 points in October, the University of Michigan reported. The fall of the index significantly exceeded forecasts of experts, who had expected its value at the level of 98.3 points. The indicator, which determines the attitude of US consumers to the current financial situation, amounted to 112.3 points, dropping from 113.1 points. The indicator, indicating consumer expectations for the next 6 months, fell to a 3 months minimum value of 88.1 points from 89.3 points. The inflation forecast for the next 12 months decreased to 2.8% from 2.9%. For many tomorrows, Americans predict inflation at the level of 2.6%, while a month earlier their forecast was at 2.4%.

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