02:20 PM EST, 11/08/2024 (MT Newswires) -- The preliminary Michigan Sentiment index rose to 73.0 in November from 70.5 in October, above expectations for a smaller increase to 71.0.

According to the University of Michigan, consumers' assessment of current conditions slipped in November, while the near-term outlook surged. The survey was closed before election day on Tuesday, so the index increase does not reflect the results of the election.

Michigan said that inflation expectations declined slightly for the one-year horizon, but rose for the five-year horizon.