November 22, 2023
(press release)
–
Final Results for November 2023 Interest Rate and Price Pressures on Consumers (September 8, 2023) Next data release: Friday, December 08, 2023 for Preliminary December data at 10am ET Year-ahead inflation expectations rose to 4.5% this month, up from 4.2% in October, reaching its highest reading since April 2023. Long-run inflation expectations rose from 3.0% last month to 3.2% this month, a reading last seen in 2011. These expectations have risen in spite of the fact that consumers have taken note of the continued slowdown in inflation; consumers appear worried that the softening of inflation could reverse in the months and years ahead.
Nov
Oct
Nov
M-M
Y-Y
2023
2023
2022
Change
Change
Index of Consumer Sentiment
61.3
63.8
56.7
-3.9%
+8.1%
Current Economic Conditions
68.3
70.6
58.7
-3.3%
+16.4%
Index of Consumer Expectations
56.8
59.3
55.5
-4.2%
+2.3%
Revisions to Estimates (October 27, 2023)
Surveys of Consumers Director Joanne Hsu
Consumer sentiment fell a modest 2.5 index points, or 4%, from October. While this marks the fourth consecutive month of declines, November’s reading reflects a balance of factors, some of which improved while others worsened. More-favorable current assessments and expectations of personal finances were offset by a notable deterioration in expected business conditions. In particular, long-run business conditions plunged by 15% to its lowest since July 2022. Younger and middle-aged consumers exhibited strong declines in economic attitudes this month, while sentiment of those age 55 and older improved from October.
* All content is copyrighted by Industry Intelligence, or the original respective author or source. You may not recirculate, redistrubte or publish the analysis and presentation included in the service without Industry Intelligence's prior written consent. Please review our terms of use.