UMich Sentiment Holds At 10-Year Lows, Inflation Expectations At 13 Year High

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After plunging to decade-lows in preliminary data, analysts expected practically no bounce at all for the final November print of University Of Michigan’s Sentiment survey, but in fact the data did bounce a little.

  • The headline print rose from 66.8 prelim to 67.4 final but remains well below the 71.7 October print.

  • Current Conditions rose from 73.2 prelim to 73.6 final for November (still below October’s 77.7).

  • Expectations also rebounded modestly from 62.8 to 63.5 final, but well below the 67.9 final print from October.

However, despite the intramonth bounce (which was small), headline sentiment remains at its lowest since 2011…

Source: Bloomberg

Buying Attitudes all dropped in November to record lows…

Source: Bloomberg

Finally, and perhaps most importantly, Americans’ expectations for the future path of inflation remain at their highest since 2008 fro the short-term and medium-term picked up as the month proceeded…

Source: Bloomberg

Not what Brainard wanted to see!



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