Consumer Sentiment Misses Expectations

Consumer sentiment missed expectations, down 8 tenths from the preliminary reading to 97.5 for the final November score vs Econoday's consensus for 98.3. October's final score was 98.6.

Moderation is split between current conditions, down 8 tenths from October to 112.3, and expectations, down 1.2 points to 88.1. Inflation expectations are mixed with the year-ahead reading down 1 tenth to 2.8 percent but the 5-year outlook up 2 tenths to 2.6 percent.

Though below expectations, today's results could have been worse given the tumble underway in the stock market. Nevertheless, one of the last things the nation's retailers want to hear is that consumer enthusiasm may be waning going into Black Friday and the holiday shopping season.