Keeping you up to date on the latest data releases.
Final numbers show that the University of Michigan’s Index of Consumer Sentiment fell to 73.2 from the preliminary number, 75.2, posted earlier in October. The consumer expectations and current economic conditions indexes contributed to the intramonth decrease, with revisions of 62.5 from 63.9 and 89.9 from 92.8, respectively. October’s final reading is the lowest reading in nine months.
As for inflation expectation revisions, consumers now expect a year-ahead inflation rate of 3.0 percent down from 3.3 percent in September. And a longer-term (five- to ten-year) rate of 2.8 percent, down from 3.0 percent in September.