U.S. consumer sentiment falls in early November

U.S. consumer sentiment unexpectedly fell in early November due to the outcome of the presidential election and a resurgence in COVID-19 infections and deaths, weighing on the economic outlook, the University of Michigan said on Friday, Trend reports citing Reuters.

The University of Michigan’s consumer sentiment index dropped to 77 early this month from a final reading of 81.8 in October. Economists polled by Reuters had forecast the index would be little changed at 82.