The fact that consumers are more cautious can be seen, for example, in their personal expenses.
(Photo: Bloomberg)
Washington US consumer sentiment clouded over more than expected in November. The barometer for consumer mood fell to 109.5 points from a revised 111.6 points in October, as the Institute Conference Board announced on Tuesday for its survey. Economists had only expected a decrease to 111.0 points. The situation on the labor market has improved again after the pandemic-induced bloodletting in jobs, but the high inflation is gnawing at the purchasing power of consumers.
This can be seen, for example, in their personal expenses, which exclude energy and food costs. This annual inflation rate was 4.1 percent in October, well above the level of two percent targeted by the Federal Reserve.
More: Jerome Powell warns of a gloomy economic outlook due to the new Corona variant
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