U.S. consumer sentiment at six-month high after U.S. election: UMich
- Record-setting rally pushes on as S&P ends week up 3 percent
- Trump's Cohn Pick Most Bullish Sign Yet for Banks - Cowen
- Unusual 11 Mid-Day Movers: (IDXG) (INVN) (EBS) Higher; (SCON) (DTEA) (DLTH) Lower (more...)
- 21st Century Fox (FOXA) offers to acquire Sky for GBP10.75/share
- Coca Cola (KO) Announces James Quincey to Succeed Muhtar Kent as CEO; Kent to Continue as Chairman
An empty shopping cart is seen in a shopping center parking lot in Westbury, New York November 27, 2015. REUTERS/Shannon Stapleton
Get daily under-the-radar research with StreetInsider.com's Stealth Growth Insider Get your 2-Wk Free Trial here.
(Reuters) - U.S. consumer sentiment brightened noticeably in the aftermath of the presidential election as Americans expressed greater confidence in the outlook for their personal finances and prospects for economic growth, a survey said on Wednesday.
The University of Michigan Surveys of Consumers said its consumer sentiment index rose to a final reading of 93.8 for November, up from both the preliminary reading of 91.6 earlier in the month and October's final reading of 87.2.
Analysts polled by Reuters had expected a reading of 91.6.
The rise pushed the index to its highest level since May, and the index measuring consumer expectations rose to 85.2, its highest since June 2015, from 76.8 last month.
Results from November's preliminary survey, issued on Nov. 11, did not reflect consumers' mood shift following the election of Republican Donald Trump in the Nov. 8 U.S. presidential election. The final reading released Wednesday did capture the shift.
"The upsurge in favorable economic prospects is not surprising given Trump’s populist policy views, and it was perhaps exaggerated by what most considered a surprising victory as well as by a widespread sense of relief that the election had finally ended," the survey's Chief Economist Richard Curtin said in a statement.
(Reporting By Dan Burns; Editing by Chizu Nomiyama)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Japan third quarter growth slashed as capex, inventories shrink
- China puts temporary ban on North Korean coal imports
- After Aleppo, Syria's Assad still far from regaining his state