Eye on consumers
Economists expect that a recent surge in coronavirus infections continues to diminish Americans’ feelings about their economic prospects.
They predict the University of Michigan’s consumer sentiment index slipped to 76.3 this month. A steep rise in virus cases in recent weeks pulled November’s reading to 76.9 from 81.8 in October. The index is closely watched for signals of Americans’ willingness to spend, as consumer spending accounts for 70% of U.S. economic activity.