Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment ticked down slightly in early October, from 68.2 in September to 67.9. As the series has slipped from its peak in June of this year (at 76.0), most of the declines have come from the consumer expectations component. However, in October, expectations strengthened from 60.9 to 64.6, while current conditions fell from 79.6 to 73.0. According to the release, this reversal comes as respondents feel, “...prospects for the economy improved and prospects for personal finances and buying plans declined.” One year-ahead average inflation expectations rose 0.3 percentage point to 3.3 percent in October, with a sizeable 0.4 percentage point jump to 2.6 percent in the median expectation. Longer-term (5-10 year-ahead) were stable during the month, as average expectations nudged down to 3.0 percent from 3.1 percent in September, while the median expectation was flat at 2.7 percent.