Keeping you up to date on the latest data releases.
- Consumer Sentiment
The University of Michigan’s Index of Consumer Sentiment increased 3.4 points in late October to an index level of 60.9 (57.5 previously). Although October marks a 5.2 point gain from a low in August, the index still remains at levels reminiscent of early 2009. Contributing to the gain was an uptick in current economic conditions to 75.1, up 1.3 points from 73.8 earlier in the month, as well as an increase in consumer expectations which jumped 4.8 points to 51.8 from 47.0. Even though consumers indicated marginal gains in favorable economic prospects, 71 percent of all consumers still expected bad times financially in the economy in the year ahead. Both shorter-term median inflation expectations (one-year ahead) and longer-term inflation expectations (five-years ahead) remained unchanged at 3.2 percent and 2.9 percent, respectively.