Consumer sentiment continued to wane in October, slipping to 67.7 in the month’s final reading from a preliminary reading of 67.9, according to data Friday from the University of Michigan.
Economists predicted a 68.0 reading for the index. The October headline level compares with 68.2 in September and 68.9 in August. The final expectations index fell to 61.9 in October from a preliminary reading of 64.6. That compares with 60.9 in September and 62.9 in August.
The current conditions index rose to 76.6 in October from a preliminary reading of 73.0. That compares with 79.6 in September and 78.3 in August.
Economists polled by Thomson Reuters had predicted a 73.8 reading for the current conditions index and 65.0 for the expectations index.
“It is unlikely that sentiment will improve to truly optimistic levels until robust job creation returns,” Steven Wood of Insight Economics said in a research note. “Sentiment is solidly stuck near its average recessionary level. Households remain worried about the economy — their assessments of both current conditions and expectations are still weak, especially after a year of economic expansion.”