But in a positive that points to no immediate effect on consumer spending, the current conditions component shows much less weakness, down only 5 tenths from the flash at 104.3. Inflation readings are up from mid-month but little changed from October, at 2.7 percent for the 1-year outlook, which is unchanged from October, and at 2.6 percent for the 5-year outlook which is up 1 tenth from October.
Consumer confidence readings are elusive indicators, often showing a sensitivity to news events that does not pan out to actual spending behavior. Still, readings are going down and could become an outside global effects factor for the December FOMC.
Recent History Of This Indicator:
Consumer sentiment is expected to hold onto its early November gains, at 93.1 for the final reading of the month and once again the strongest result since July. Expectations were on the rise early in the month as was the assessment of current conditions. But watch for inflation readings in this report which have been weak and could become a factor for the December FOMC.
Consumer sentiment is expected to hold onto its early November gains, at 93.1 for the final reading of the month and once again the strongest result since July. Expectations were on the rise early in the month as was the assessment of current conditions. But watch for inflation readings in this report which have been weak and could become a factor for the December FOMC.
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