University of Michigan's Index of Consumer Sentiment posted final November reading of 56.8, down from October's 59.9; consumer sentiment weighed down by inflation, rising borrowing costs, declining asset values and weakening labor market expectations

Sample article from our Housing & Economy

November 23, 2022 (press release) –

Final Results for November 2022

  Nov Oct Nov M-M Y-Y
  2022 2022 2021 Change Change
Index of Consumer Sentiment 56.8 59.9 67.4 -5.2% -15.7%
Current Economic Conditions 58.8 65.6 73.6 -10.4% -20.1%
Index of Consumer Expectations 55.6 56.2 63.5 -1.1% -12.4%

 

Read our November 18th report, Five Patterns in Consumer Responses to Inflation.
Next data release: Friday, December 09, 2022 for Preliminary December data at 10am ET

Surveys of Consumers Marks Leadership Change

Surveys of Consumers Director Joanne Hsu
Consumer sentiment fell 5% below October, offsetting about one-third of the gains posted since the historic low in June. Along with the ongoing impact of inflation, consumer attitudes have also been weighed down by rising borrowing costs, declining asset values, and weakening labor market expectations. Buying conditions for durables, which had markedly improved last month, decreased most sharply in November, falling back 19% to its September level on the basis of high interest rates and continued high prices. Long-term business conditions declined a more modest 6%, while short-term business conditions and personal finances were essentially unchanged.
Inflation expectations were also little changed from October. The median expected year-ahead inflation rate was 4.9%, down slightly from 5.0% last month. Long run inflation expectations, currently at 3.0%, have remained in the narrow (albeit elevated) 2.9-3.1% range for 15 of the last 16 months. Uncertainty over these expectations remained at an elevated level, indicating that the general stability of these expectations may not necessarily endure.

* 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.

See our dashboard in action - schedule an demo
Chelsey Quick
Chelsey Quick
- VP Client Success -

We offer built-to-order housing & economy coverage for our clients. Contact us for a free consultation.

About Us

We deliver market news & information relevant to your business.

We monitor all your market drivers.

We aggregate, curate, filter and map your specific needs.

We deliver the right information to the right person at the right time.

Our Contacts

1990 S Bundy Dr. Suite #380,
Los Angeles, CA 90025

+1 (310) 553 0008

About Cookies On This Site

We collect data, including through use of cookies and similar technology ("cookies") that enchance the online experience. By clicking "I agree", you agree to our cookies, agree to bound by our Terms of Use, and acknowledge our Privacy Policy. For more information on our data practices and how to exercise your privacy rights, please see our Privacy Policy.