Consumer Sentiment Drops to 2 Year Low

Consumer sentiment continued to slide in November, University of
Michigan/Reuters survey
. The November consumer sentiment index was 75.0 — the lowest
level since October 2005 — and is a slide from October’s 80.9. (consensus was 79.5).

My best guess as to the cause of the low sentiment readings was a lethal combination of depressed Yankee fans, suicidal Home Builders, Fox’ cancellation of this season’s 24, and Larry David.

I was originally going to suggest that $97 Oil and higher food prices were at the root cause of this, but since there is obviously no inflation, it must be something else . . .

Consumer_sent_1109

Source:
UMich Nov. consumer sentiment 75.0 vs 80.9 in Oct.
Ruth Mantell
MarketWatch, 10:04 AM ET Nov 9, 2007

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