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As Stocks Soar To Record High, Americans’ Consumer Confidence Tumbles In November

Courtesy of ZeroHedge. View original post here.

Despite soaring stock market values and an endless array of postive survey data from various estabishment-based entities, University of Michigan confidence tumbled in November.

Consumer sentiment in the U.S. cooled for a second month. While current conditions managed to improve, expectations for the future slumped…

“Perhaps the most important changes in early December were higher income expectations as well as a higher expected inflation rate in the year-ahead,” Richard Curtin, director of the University of Michigan consumer survey, said in a statement.

“The rise in inflation expectations in early December was a surprise, and confidence in this finding must await confirmation in the months ahead before any inferences are drawn.”


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