Consumer Sentiment Slips a Bit in October

The University of Michigan’s preliminary October consumer sentiment index reading was 69.4, compared to the final September level of 73.5, the preliminary September reading of 70.2, and the final August level 65.7, according to market sources.

Economists polled by Thomson Reuters had predicted a 73.5 reading for the index.

The expectations index was 67.6, compared to 73.5 in September, 69.2 earlier in the month, and 65.0 in August.

The current conditions index was 72.1, compared to 73.4 in September, 71.8 earlier in the month, and 66.6 in August.

Economists polled by Thomson Reuters had predicted a 72.0 reading for the current conditions index and 73.3 for the expectations index.

The five-year inflation expectation index was 2.9%, compared to the 2.8% last month, 2.9% earlier in September, and the 2.8% final August reading.

The the one-year inflation expectation index was 2.8%, compared to the 2.2% last month, 2.6% earlier in September, and 2.8% in August reports.

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