U.S. Consumer Sentiment Unexpectedly Declines on Economic Views

U.S. consumer sentiment unexpectedly declined in early November as an increase in Covid-19 infections and the election prompted Americans to reassess their outlooks for the economy and finances.

The University of Michigan’s preliminary sentiment index for November decreased to a three-month low of 77 from a final October reading of 81.8, data released Friday showed. The figure matched the lowest estimates in a Bloomberg survey of economists that had called for 82.