US consumer sentiment near record low ahead of midterm elections
Joanne Hsu said purchasing power and inflation worries dragged the index to 48.0, while year-ahead inflation expectations rose to 4.7%, above September's 4.6%.
- 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.
72 Articles
72 Articles
Consumer confidence is now clearly below its long-term average.
نُشر هذا مقاعد ولاً عبر Cedarnews.net. To follow more of the news and reports, click on our website. According to Statistics Finland, the balance of the consumer confidence indicator was -9.7 in October, while it was -4.9 in September and -3.0 in August. The long of the indicator. تم نشر هذا الخبر عبر موقع Cedarnews الشبابري. For more information, visit our official website.
In October, entrepreneurs' assessment of the economy improved, but consumers became more pessimistic, according to data from surveys measuring the economic confidence of businesses and consumers published by Statistics Estonia.
The consumer confidence indicator balance was -9.7 in October, compared to -4.9 in September.
The Consumer Confidence Index has returned to a downward trend just one month after rebounding. This is due to the instability of the stock market and the continued confrontation between the U.S. and Iran. According to the ‘Consumer Sentiment Survey Results’ released by the Bank of Korea on the 27th, the Consumer Confidence Index (CCSI) for October stood at 105.4, down 1.2 points from the previous month.
Coverage Details
Bias Distribution
- 50% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
