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U.S. consumer sentiment keeps rising in early November

Staff writer |
U.S. consumer sentiment, buoyed by a stronger outlook for the U.S. economy, continued rising in early November, the Thomson Reuters/University of Michigan index of consumer sentiment showed.

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The preliminary reading of the consumer sentiment for November was 93.1, up from the October reading of 90. It is the second consecutive increase within the past six months.

"Consumers anticipated somewhat larger income increases during the year ahead as well as expected a somewhat lower inflation rate," said survey director Richard Curtin.

"This meant that consumers held the most favorable inflation-adjusted income expectations since 2007," said Curtin.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, increased to 104.8 from 102.3 last month.

The sub-index gauging consumer expectations for six months from now, which more closely projects the trend of consumer spending, rose to 85.6 from 82.1 in October.

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