FX.co ★ US Consumer Sentiment Improves in November

The University of Michigan’s consumer sentiment index rose to 51.0 in early November 2026, up from 48.0 in October and comfortably above market expectations of 48.0. Modest gains across several components—particularly expectations for personal finances and business conditions—were driven mainly by independent voters. Sentiment strengthened among lower- and middle-wealth households but declined by 5% among consumers with the largest stock portfolios, following a relatively volatile period in equity markets. Consumer remarks also pointed to rising unease over a potential AI-driven asset bubble, though such worries remained secondary to ongoing cost-of-living pressures. Despite November’s uptick, overall sentiment is still 10% below its February level. Inflation expectations, however, were more encouraging: year-ahead expectations eased to 4.3% from 4.7% in October, and long-run expectations edged down to 3.4% from 3.5%.