Consumer sentiment plunges to 4-month low
Index erases around half of gains recorded since historic low in June
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US consumer sentiment in November plunged to its lowest level in four months, according to a survey released Friday.
The index of consumer sentiment plummeted 5.2 points to 54.7 in November, according to the University of Michigan's consumer survey preliminary results.
It stood at 59.9 in October.
"Consumer sentiment fell about 9% below October, erasing about half of the gains that had been recorded since the historic low in June," Surveys of Consumers Director Joanne Hsu said in a statement.
The index of current economic conditions plummeted 7.8 points to 57.8 in November, from 65.6 in October.
The index of consumer expectations declined 3.5 points to 52.7, from 56.2, during that period.
"Instability in sentiment is likely to continue, a reflection of uncertainty over both global factors and the eventual outcomes of the election," Hsu said.
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