NEW YORK - The University of Michigan's preliminary October consumer sentiment index reading was 69.4, compared to the final September 73.5, the preliminary September reading of 70.2, and the final August 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 September, and 65.0 in August.
The current conditions index was 72.1, compared to 73.4 in September, 71.8 earlier in September, 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, while 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.
The University of Michigan index is not released to the press, but only to paying subscribers.
