University of Michigan survey shows U.S. consumer sentiment at 4-month low

According to a University of Michigan survey, the U.S. consumer sentiment index fell to 56.8 in November, a four-month low from 59.9 in October but higher than the preliminary reading of 54.7.

The consumer confidence index was impacted by inflation fears and the rebound in interest rates.

Meanwhile, consumers expect inflation to reach 4.9% next year, down from 5.0% last month.

Consumers expect inflation to reach 3.0% over the next five years, up from 2.9% surveyed last month.

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