- Analytics
- News and Tools
- Market News
- U.S. consumer sentiment slightly better than initially estimated in October
U.S. consumer sentiment slightly better than initially estimated in October
The final
reading for the October Reuters/Michigan index of consumer sentiment came in at
81.8 compared to a preliminary reading of 81.2 and the September final reading
of 80.4. This was the highest reading since March.
Economists had
forecast the index to remain unrevised at 81.2.
According to
the report, the index of the current economic conditions fell 2.2percent m-o-m
to 85.9 from September’s final reading of 87.8. Meanwhile, the index of
consumer expectations climbed 4.8 percent m-o-m to 79.2 from September’s final
reading of 75.6.
“Consumer
sentiment remained virtually unchanged from the first half of October (+0.6
points) and was insignificantly different from last month's figure (+1.4
points)”, noted Richard Curtin, the Surveys of Consumers chief economist. “Fear
and loathing produced this false sense of stability. Fears were generated by
rising covid infection and death rates, and loathing was generated by the
hyper-partisanship that has driven the election to ideological extremes.
Moreover, the impact of the covid virus and the extremes of hyper-partisanship
will continue long past next week's election, with the potential to permanently
alter the economic and political landscape.”
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
