WS #17025
The University of Michigan’s preliminary Consumer Sentiment index for November printed at 51.0, significantly beating the 47.5 consensus and the 48.0 prior reading. This unexpected resilience in consumer confidence provides a macro tailwind for retail and consumer discretionary sectors, countering fears of an imminent demand destruction. The data supports the recent upgrade of Target and suggests that the US economy is maintaining momentum despite higher interest rates.
US Consumer Sentiment Beat
The University of Michigan’s preliminary Consumer Sentiment index for November printed at 51.0, significantly beating the 47.5 consensus and the 48.0 prior reading. This unexpected resilience in consumer confidence provides a macro tailwind for retail and consumer discretionary sectors, countering fears of an imminent demand destruction. The data supports the recent upgrade of Target and suggests that the US economy is maintaining momentum despite higher interest rates.