The 1st look at Nov UoM confidence was slightly better than expected at 69.3 vs the consensus of 69. It’s up from 67.7 in Oct and the best reading in 5 months but remains below the best figure of the year, 76 back in June. Most of the gain was in Current Conditions which rose by 3.1 pts to 79.7 with the Economic Outlook up by less than 1 pt to 62.7. The survey captures the strong market rally of late, Fed action, the elections and the improving level of initial claims. The most interesting aspect of the report was the jump in one year inflation expectations which went from 2.7% to 3%, the most since June. This squares with the weekly news of late from companies that are raising prices to help offset the rise in their commodity costs. One of the most high profile consumer costs of them all in terms of what’s seen everyday, gasoline, is up to an average of $2.88 per gallon as of last night according to AAA. That’s a 6 month high.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.