The final University of Michigan's consumer sentiment index shows: • consumer sentiment 56.8 versus 55.0 estimate. Last month 59.9 • current conditions 58.8 versus 57.8 preliminary. Last month 65.6 • expectations 55.6 versus 52.7 preliminary. Last month 56.2 • one year inflation 4.9% versus 5.1% in the preliminary. Last month 5.0%. • Five year inflation 3.0% versus 3.0% in the preliminary. Last month 2.9% • overall better than the preliminary which was a shock to the downside. Nevertheless it is still lower month-to-month. (full story)

As has been the case in recent months, the headline sentiment signal from UMich pales relative to the survey's measure of Americans' inflation expectations. This is the final print for November was the same as the flash print for the medium-term (3.0%) but the short-term (1Y) expectation dropped modestly from 5.1% to 4.9%. The final headline sentiment print for November rose from the flash print (56.8 vs 54.7) and was better than expected as 'expectations' rose significantly from the flash print. The headline (and the two sub-indices) did all drop however on the month with current conditions tumbling from 65.6 to ... (full story)