US consumer sentiment near record low ahead of midterm elections
The revised reading showed sentiment fell less than first estimated, while households still expect prices to keep rising, the survey said.
- On Friday, the University of Michigan Consumer Sentiment Index dropped to 48.0 in October from 48.1 in September, as U.S. households remain downbeat about the economy.
- Rising prices linked to the Middle East conflict have soured household views. "Purchasing power continues to dominate consumer views of the economy," said Joanne Hsu, the director of the Surveys of Consumers.
- Inflation expectations for the next year rose to 4.7% from 4.6% in September, while five-year inflation expectations also nudged upward to 3.5%.
- The Federal Reserve will release its next interest rate decision at 2:00 p.m. ET on October 28, with traders currently pricing a 91.5% probability of no change.
- Rising to 56 in October from 55.9, S&P Global's manufacturing PMI shows all three business readings remain well above 50, indicating continued steady expansion.
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Consumer sentiment nears all-time low ahead of midterms - Regional Media News
Consumer sentiment stands near the lowest level numerically ever recorded in the 74-year history of the University of Michigan's monthly survey, just weeks before the U.S. midterm elections. Shopper attitudes stayed near their lowest levels in October as inflation squeezed household budgets and a global [...]
MyClallamCounty.com
Consumer sentiment nears all-time low ahead of midterms
A gas station employee fills a truck up with diesel fuel on Oct. 16, 2026, in Bayonne, New Jersey. (Spencer Platt/Getty Images) Consumer sentiment stands near the lowest level numerically ever recorded in the 74-year history of the University of Michigan’s monthly survey, just weeks before the U.S. midterm elections. Shopper attitudes stayed near their lowest levels in October as inflation squeezed household budgets and a global fuel supply shor…
The University of Michigan index stood at 48 points, compared with the initially estimated 46.3. However, purchasing power remains one of the main concerns of Americans.
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