Consumer confidence in the US plunged in November, with the index falling to a 10-year low as the inflation rally affected households’ living standards.
In particular, the University of Michigan Consumer Confidence Index fell to 66.8 points based on the initial measurement for November, from the final measurement in October to 71.7 points.
This is the lowest level since November 2011. It is noted that the average estimates of analysts in a Reuters poll put the index at 72.4 points.
Data released this week in the US showed that consumer prices rose in October with the faster pace of the last 31 years, exceeding analysts’ estimates.
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Source From: Capital
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