Consumer Sentiment Dips in November

November 9, 2006 9:50 AM, EST

Click here to write a Letter to the Editor.

he University of Michigan said Thursday its index of consumer sentiment for November fell to 92.3 from 93.6.

Economists had expected no change in the index, Bloomberg reported.

October’s reading of 93.6, the highest for the index since July 2005, was up from 85.4 in September.

The index, which measures how consumers feel about the economy, continued to hover near its 15-month high, supported by falling gasoline prices which helped to soften the impact of a declining housing market, Bloomberg said.