Consumer sentiment hits highest level since July
November mid-month consumer sentiment reached its highest level since July, according to the Reuters/University of Michigan survey. The monthly index hit 64.2 for mid-November, up from 60.9 for all of October and down slightly from an implied 64.3 reading in the last half of last month. Econoday said consumer sentiment had been unusually low compared with consumer spending, which increased by $68.7 billion, or 0.6%, in September from August according to the Bureau of Economic Analysis. Consumer expectations for the next six months reached 56.2, up more than points from October. The measure dropped to 47 in September, a 30-year low. The survey questions 500 households on their financial status and thoughts about the economy. Write to Andrew Scoggin. Follow him on Twitter @ascoggin.