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Americans are turning pessimistic about the economy for the first time in months as coronavirus cases repeatedly hit new records.

The University of Michigan’s index of consumer sentiment fell to 77 in a preliminary November reading from 81.8, marking its first decline in four months. Economists surveyed by Bloomberg expected the gauge to edge higher to 82. Friday’s reading is also the index’s lowest since August.

The university’s index of consumer expectations sank to 71.3 from 79.2, also hitting its lowest in three months. Much of the decline came from a dive in expectations among Republicans details ⇒

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