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US October Consumer Sentiment Finalized at 48.0, Beating Estimates; Inflation Expectations Rise
Minseung Kang
Summary
- The final U.S. consumer sentiment reading for October came in at 48.0, above the market forecast of 46.3.
- The current economic conditions index fell to 46.7, while the consumer expectations index rose to 48.8.
- Expected inflation over the next year rose to 4.7%, while five-year expected inflation increased to 3.5%.
Forecast Trend Report by Period
U.S. consumer sentiment in October came in above market expectations, while inflation expectations also moved higher.
According to Walter Bloomberg on October 23, the University of Michigan’s final October consumer sentiment index was 48.0, above the market forecast of 46.3. It was slightly below September’s 48.1.
The current economic conditions index fell to 46.7 from 50.9. By contrast, the consumer expectations index rose to 48.8 from 46.3.
One-year inflation expectations increased to 4.7% from 4.6%, while five-year inflation expectations rose to 3.5% from 3.4%.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.