US Preliminary Consumer Sentiment Jumps to 51.0 in November as Inflation Expectations Ease

U.S. consumer sentiment unexpectedly improved in November, according to preliminary survey data from the University of Michigan. The headline Consumer Sentiment Index increased to 51.0, beating consensus estimates of 47.5 to 48.0 and climbing from prior readings reported between 46.3 and 48.0. The current economic conditions component reached 51.0, while consumer expectations rose to 50.9. Crucially for markets, inflation expectations moderated, with the one-year outlook falling to 4.3% from 4.7% in October and the five-year inflation measure easing slightly to 3.4% from 3.5%.