Consumer sentiment below expectations in preliminary Oct. read
The University of Michigan's preliminary October consumer sentiment index reading was 99.0, compared to the final September 100.1 and the preliminary September 100.8, according to market sources.
The expectations index was 89.1 compared to the final September 90.5 and the preliminary September 91.1.
The current conditions index was 114.4, compared to the final September 115.2 and the preliminary September 116.1.
Economists polled by IFR Markets had predicted a 100.5 reading for the main index, 115.6 for current conditions and 90.0 for expectations.
The five-year inflation expectation index was 2.3%, compared to 2.5% in September, while the one-year inflation expectation index was 2.8%, compared to 2.7% in September.
The University of Michigan index is not released to the press, but only to paying subscribers.