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- U.S. consumer sentiment index unexpectedly rise in early October
U.S. consumer sentiment index unexpectedly rise in early October
A report from
the University of Michigan revealed on Friday the preliminary reading for the
Reuters/Michigan index of consumer sentiment rose to 96.0 in early October. That was the highest reading since July.
Economists had
expected the index would decrease to 92.0 this month from September’s final
reading of 93.2.
According to
the report, the index of current U.S. economic conditions increased to 113.4
in October from 108.5 in the previous month. Meanwhile, the index of consumer
expectations grew to 84.8 this month from 83.4 in September.
Sentiment
rebounded in early October as consumers anticipated larger income gains and
lower inflation during the year ahead, the report noted.
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