Consumer sentiment in the United States is improving
US consumer sentiment improved in November. The barometer rises from 99.1 to 102 points.
The rising cost of living erodes the purchasing power of consumers in the United States.
Photo: Eric Verduzco/AP Photo/Keystone
US consumer sentiment improved in November. The Conference Board on Tuesday announced in its poll that its measure of consumer sentiment rose to 102.0 points from a downwardly revised 99.1 points in October. Experts polled by Reuters had expected a value of 101.0 points for November. The rising cost of living erodes the purchasing power of consumers in the United States. The inflation rate fell to 3.2% in October from 3.7% in September. However, at its last meeting, the Fed stated that inflation remains “well above” the 2% target.
The Fed has not touched interest rates for two consecutive meetings. The bank kept the key monetary policy interest rate in the range of 5.25 to 5.5% at the beginning of the month, while leaving the option of a future increase open. However, there is speculation in financial markets that this will no longer happen and that the first interest rate cuts will take place in the middle of next year.
Reuters
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