Americans’ Feelings About the Economy Continue to Worsen
Economists will watch whether the October reading shows consumers more willing to spend after stronger retail sales and steady jobless claims.
- On Friday, The University reported its Consumer Sentiment Index dropped to 46.3 from 48.1 in September, reflecting deepening frustration among Americans about the economy's trajectory.
- Rising prices from the US-Israeli war with Iran have soured households' views; Joanne Hsu, director of the Surveys, said frustration over cost-of-living "continues to mount" as consumers face persistent inflation.
- Twelve-Month inflation expectations nudged up to 4.7% from 4.6% after September, while five-year expectations rose to 3.5% from 3.4%, signaling sustained pricing pressure ahead.
- While PepsiCo reported 5.6% revenue growth on Thursday, its beverage volumes fell 2%; Costco reported comparable sales rose 8% after September, revealing mixed consumer spending patterns.
- The Labor Department reported weekly jobless claims fell to 197,000 last week, near half-century lows; Bill Adams, chief economist at Fifth Third Commercial Bank, said job growth sustains workforce expansion.
16 Articles
16 Articles
The U.S. consumer confidence index fell to 46.3 in October, after remaining at 47.8 in September, according to preliminary data released this Friday by the University of Michigan. The result came below the forecast of some analysts of a reading of 48. The indicator that measures the perception of the current conditions of the American economy went from 50.9 in September to 44.7 in October, while the expectations index went from 45.8 to 47.3 in t…
Americans’ feelings about the economy continue to worsen
By Alicia Wallace, CNN (CNN) — Americans’ outlooks on the economy remain down in the dumps this month, new data released Friday showed. The University of Michigan’s preliminary read on consumer sentiment for October showed its closely watched index falling to 46.3 from 48.1 last month. Consumers are wrangling with a high cost-of-living environment where
US consumer sentiment deteriorates further in October
WASHINGTON, Oct 9 (Reuters) - US consumer sentiment deteriorated further in early October as rising prices because of the Middle East conflict soured households' views of the economy, a survey showed on Friday. The University of Michigan's Surveys of...
US UoM Consumer Confidence Weakens as Inflation Expectations Climb for Second Month - ActionForex
US consumer sentiment weakened in October, with the University of Michigan index falling from 48.1 to 46.3 in the preliminary reading. The deterioration was concentrated in how households viewed present conditions: the Current Economic Conditions index dropped from 50.9 to 44.7, while the Consumer Expectations index actually improved from 46.3 to 47.3. The split suggests […]
Consumer Surveys at the University of Michigan indicated that their Consumer Confidence Index fell this month to 46.3
Coverage Details
Bias Distribution
- 82% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
