WASHINGTON (dpa-AFX) – Consumer confidence in the United States improved less than expected in November, according to revised data released Friday by the University of Michigan.

The University of Michigan said its consumer confidence index for November was revised down to 71.8 from the preliminary reading of 73.0.

Although the downward revision surprised economists, who had expected an upward revision to 73.7, the index remains above October’s final reading of 70.5.

Despite the unexpected downward revision, the consumer confidence index also remains at its highest level since reaching 77.2 in April.

“Post-election interviews were 1.3 points lower than pre-election results, blunting the improvement seen earlier in the month,” said Joanne Hsu, director of consumer surveys.

She added: “The expectations index jumped for Republicans and fell for Democrats this month, reflecting the two groups’ incongruous views on how Trump’s policies will influence the economy.”

The report said the consumer expectations index rose to 76.9 in November from 74.1 in October, while the current economic conditions index fell to 63.9 in November from 64.9 in October.

Regarding inflation expectations, the University of Michigan said inflation expectations for the coming year fell slightly to 2.6% in November from 2.7% in October, reaching the level the lowest since December 2020.

In contrast, long-term inflation expectations rose to 3.2 percent in November from 3.0 percent in October. Uncertainty about long-term inflation has also increased.

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