U.S. consumer sentiment plunges

11/10/2013 | Bloomberg Businessweek

Worries surrounding the government shutdown may be weighing on U.S. consumers, with a key gauge of sentiment falling to a nearly two-year low. The Thomson Reuters/University of Michigan preliminary consumer sentiment index for November is pegged at 72, down from 73.2 last month and well below economists' predictions of an increase to 74.5. "We had a great deal of uncertainty around the federal government and whether the shutdown would have a lasting effect in terms of employment gains and the economy's momentum," said Robert Rosener, associate economist at Credit Agricole CIB in New York.

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