Economic Buzz: US Consumer Sentiment Improves Slightly In October

17 Oct 2022 , 09:24 AM

Consumer sentiment in the U.S. has seen a modest improvement in the month of October, according to preliminary data released by the University of Michigan on Friday. Consumer sentiment in the U.S. has seen a modest improvement in the month of October, according to preliminary data released by the University of Michigan on Friday. The increase by the headline index reflected a notable improvement in consumers assessment of current conditions, with the current economic conditions index jumping to 65.3 in October from 59.7 in September. On the other hand, the index of consumer expectations dipped to 56.2 in October from 58.0 in September, suggesting the improvement in consumer sentiment remains tentative. Meanwhile, the report showed a rebound in inflation expectations, with one-year inflation expectations climbing to 5.1 in October after dropping to a one-year low of 4.7 in September. Five-year inflation expectations also increased to 2.9 percent in October after falling to 2.7 percent in September.Powered by Commodity Insights