Updated: 15-Oct-21 10:21 ET
|Updated: 15-Oct-21 10:21 ET
- The preliminary October University of Michigan Index of Consumer Sentiment dropped to 71.4 (Briefing.com consensus 73.5) from the final reading of 72.8 for September, leaving it pinned near the lows that were registered last year following the shutdown of the economy to combat the spread of COVID.
- The Current Economic Conditions Index fell to 77.9 from 80.1.
- The Index of Consumer Expectations slipped to 67.2 from 68.1.
- The year-ahead inflation rate increased to 4.8% from 4.6%.
- The 5-year inflation expectations rate dropped to 2.8% from 3.0%.
- The key takeaway from the report is the finding that confidence in economic policies is fading regardless of political affiliation, as well as across all age, income, and education subgroups.
| Present conditions