U.S. consumer sentiment improved in the University of Michigan’s preliminary November survey, although households continued to report pressure from high prices.
The index reached 51.0, up from October’s 48.0 and equal to its November 2025 reading. The university released the findings November 6.
Its measure of current economic conditions increased to 51.0 from 46.7, while the expectations index rose to 50.9 from 48.8. Both components remained slightly below their year-earlier readings.
Survey director Joanne Hsu said the improvement was concentrated among political independents. Lower- and middle-wealth households reported stronger sentiment, while respondents with the largest stock portfolios recorded a 5% decline amid market turbulence.
About 57% volunteered that high prices had weakened their living standards, compared with 46% in February. Overall sentiment remained 10% below February despite November’s improvement, according to the university.
Consumers also expressed concern about a possible artificial-intelligence investment bubble, but living costs remained the more prominent issue in their comments.
The survey’s interviews ran October 20 through November 2, before the November 3 midterm election. The results therefore describe views collected before Election Day, rather than a measured response to the outcome.
Reuters separately reported that year-ahead inflation expectations eased to 4.3% from 4.7%, while five-year expectations slipped to 3.4% from 3.5%. These figures measure anticipated price changes, rather than observed inflation.
The university schedules its final November reading for November 20 at 10 a.m. Eastern.
Sources: University of Michigan — Preliminary November 2026 Surveys of Consumers https://www.sca.isr.umich.edu/ Reuters — November 6 Consumer Sentiment Report https://www.reuters.com/business/us-consumer-sentiment-improves-november-worries-about-ai-bubble-emerge-2026-11-06/