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.
Reporter at HousingWire through 2012.see full bio
Most Popular Articles
Latest Articles
Housing demand stays positive with mortgage rates near 2026 highs
Weekly pending sales increased to 75,935 versus 69,636, and purchase apps were up 7% year over year despite higher mortgage rates.
-
Boston’s international business boom equals more demand for housing
-
Trump says Fannie Mae, Freddie Mac IPO still on the table
-
Akron looks to deflate minimum lot size rules to spur infill
-
Mortgage Forward to acquire First Federal Bank’s TPO division
-
Nest Egg Protection Act would raise capital gains tax exclusion for senior home sellers
Reporter at HousingWire through 2012.see full bio