US consumer confidence drops to 10-year low as inflation picks up

US consumer confidence drops to 10-year low as inflation picks up
US consumer confidence drops to 10-year low as inflation picks up
Consumer confidence in the US has fallen to its lowest level in a decade, with the country’s inflation accelerating to a 31-year high.

University of Michigan data revealed that the consumer confidence index reached 66.8 points at the beginning of November, compared to 71.7 points last October, and compared to expectations of 72.5 points.

The data showed that the current economic situation index declined to 73.2 points from 77.7 points, and the consumer expectations index fell from 67.9 points to 62.8 points.

The report pointed out that the decline in consumer confidence in the United States to the lowest level in a decade came with the high rate of inflation and the growing feeling among consumers about the lack of effective policies to reduce the damage from rising prices.

American consumers are increasingly concerned about the rising prices of homes, cars and durable goods in the country.

These were the details of the news US consumer confidence drops to 10-year low as inflation picks up for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at saudi24news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV NEOM’s ENOWA signs agreement to establish first hydrogen fueling station 
NEXT China’s factory activity stuns with fastest growth in a decade

Author Information

I am Jeff King and I’m passionate about business and finance news with over 4 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind Al-KhaleejToday.NET with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of “Financial” category. Address: 383 576 Gladwell Street Longview, TX 75604, USA Phone: (+1) 903-247-0907 Email: [email protected]