Consumer sentiment dips in early

University of Michigan preliminary November consumer sentiment index 77.0 vs. 82.0 expected and final October reading of 81.8.

Current conditions index 85.8 vs. 87.5 expected and 85.9 previous.

Expectations 71.3 vs. 78.6 expected and 79.2 previous.

Consumers saw future economic prospects less favorably as current economic conditions were largely unchanged.

"The outcome of the presidential election as well as the resurgence in covid infections and deaths were responsible for the early November decline."

Also: "Interviews conducted following the election recorded a substantial negative shift in the Expectations Index among Republicans, but recorded no gain among Democrats."