MICHIGAN (dpa-AFX) – In the US, consumer confidence fell to its lowest level in ten years in November. The index for consumer sentiment collected by the University of Michigan fell compared to the previous month by 4.3 points to 67.4 points, as the university announced on Wednesday after a second estimate. This is the lowest level since November 2011.
However, the mood was not quite as bad as initially determined in an initial estimate. After the first survey, an index value of 66.8 points was determined. Analysts had expected an index value of 66.9 points after the second estimate. The assessment of the current situation and the future expectations of the consumers surveyed were somewhat less clouded than originally reported.
The indicator from the University of Michigan is a measure of the purchasing behavior of American consumers. It is based on a telephone survey of around 500 households. The questions asked are the financial and economic assessment of the situation as well as the corresponding expectations./jkr/jsl/he