REFILE-U.S. Nov consumer sentiment hits highest since June

(Corrects day of week in first paragraph)

NEW YORK, Nov 24 (BestGrowthStock) – U.S. consumer sentiment rose
to its highest level since June on tentative signs of improved
job conditions and early discounts from retailers, a survey
showed on Wednesday.

The Thomson Reuters/University of Michigan’s final November
reading on the overall index on consumer sentiment was 71.6, up
from 67.7 in October and also above November’s preliminary
reading of 69.3.

The median forecast among economists polled by Reuters was
for a reading of 69.5. November’s reading was the highest since
June’s level of 76.0.

“The economic news heard by consumers grew significantly
more favorable in November. Net references to job gains
improved by 17 percentage points in November, rising to its
highest level since June,” the survey’s director Richard Curtin
said in a statement.

The survey’s barometer of current economic conditions was
82.1 in November, up from 76.6 in October and above the
preliminary reading of 79.7. Expectations were for a reading of
79.9.

The survey’s gauge of consumer expectations also rose and
ended November at 64.8, compared with 61.9 in October and 62.7
in early November. Expectations were for a reading of 63.0.

These were also the highest readings since June.

The survey’s one-year inflation expectations measure also
rose, hitting 3.0 percent, its highest since May. It ended
October at 2.7 percent.
(Reporting by Caroline Valetkevitch, Editing by Chizu
Nomiyama)

REFILE-U.S. Nov consumer sentiment hits highest since June