University of Michigan Consumer Sentiment Falls and Current Economic Conditions Index Hits Record Low
- 1The preliminary University of Michigan Consumer Sentiment Index for October recorded 46.3, falling below the analysts' median estimate of 47.6.
- 2The University of Michigan Current Economic Conditions Index for October fell to 44.7 from the previous month's 50.9, marking a record low.
- 3One-year inflation expectations rose to 4.7% this month from 4.6% last month.
So what's the key point?
The perceived economic situation is much lower than expected, reaching a very low level. Economic indicators have worsened as concerns regarding inflation increase.
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