BlockBeats news, on November 8, boosted by Americans' optimism about the future economy and financial situation, the U.S. consumer confidence index climbed to its highest level in seven months in November. The preliminary consumer confidence index from the University of Michigan for November rose to 73, higher than the expected 71. The expectations index soared to 78.5, the highest since mid-2021. The optimistic outlook also reflects Americans' expectations for a slowdown in inflation. Consumers expect prices to rise by 2.6% next year, the lowest level since 2020.
However, inflation expectations for the next 5 to 10 years have risen to 3.1%. The survey was conducted from October 22 to November 4. Survey director Joanne Hsu said: "Consumers have consistently indicated that the future of the economy depends on who wins the presidential election. Looking ahead, the economic policies of the next administration may become the most pressing issue for consumers regarding inflation and could drive their confidence in economic performance." The personal financial expectations index has risen to its highest level since March, partly due to improvements in personal financial conditions. Confidence in long-term business conditions has surged to its highest point in nearly four years. (Jin Shi)