US October Consumer Sentiment Falls to 46.3; Inflation Expectations Rise
JH Kim
Summary
- The U.S. October consumer sentiment index came in at 46.3, below the market forecast of 47.8 and down from 48.1 in the previous month.
- The current conditions index fell to 44.7, well below the market forecast of 51.0, indicating a weaker assessment of the current economic situation.
- Inflation expectations for the next year rose to 4.7%, while five-year inflation expectations also increased to 3.5%.
Forecast Trend Report by Period
U.S. consumer sentiment fell in October, missing market expectations, while both short- and long-term inflation expectations increased.
The University of Michigan said on October 9 that its consumer sentiment index came in at 46.3 for October. That was below the market forecast of 47.8 and down from 48.1 in September.
The current conditions index, which measures assessments of the economy, fell to 44.7. That was well below the market forecast of 51.0.
One-year inflation expectations rose to 4.7%, while five-year inflation expectations climbed to 3.5%.
The data showed deteriorating consumer sentiment alongside higher expectations for both short- and long-term inflation.
JH Kim
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