Commentary
U.S. consumer confidence has plummeted to a decade-low. The University of Michigan’s consumer sentiment index fell to 66.8 in November, down sharply from the October figure of 71.7 and well below consensus forecasts of 72.4.
Shoppers walk through Target's Harlem store last month in New York City. The latest consumer sentiment readings show a much grimmer view of the economy. Chris Hondros/Getty Images
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Daniel Lacalle
Author
Daniel Lacalle, Ph.D., is chief economist at hedge fund Tressis and author of the bestselling books “Freedom or Equality” (2020), “Escape from the Central Bank Trap” (2017), “The Energy World Is Flat” (2015), and “Life in the Financial Markets.”
