Economists expect consumer sentiment will trend lower despite promising developments on experimental Covid-19 vaccines.
Consumer sentiment is an economic indicator that measures how optimistic consumers feel about their finances and the state of the economy. In the U.S., consumer spending makes up a majority of economic output as measured by Gross Domestic Product (GDP).
Source: Reuters, November 13, 2020. Link. U.S. consumer sentiment fell unexpectedly in early November as households worried about their finances, the resurgent COVID-19 pandemic and the depleted fiscal stimulus, dimming the economy’s outlook as the curtain started to close on a challenging year.
Also see: Consumer Confidence Vs. Consumer Sentiment, Investopedia, November 11, 2020. Link.