Key Insights
- Index of Consumer Sentiment declined from 67.9 to 63.8.
- Current Economic Conditions decreased from 71.1 to 70.6.
- Index of Consumer Expectations pulled back from 65.8 to 59.3.
On October 27, the University of Michigan released the final reading of Michigan Consumer Sentiment report. The report indicated that Consumer Sentiment declined from 67.9 in September to 63.8 in October, compared to analyst consensus of 63.
Current Economic Conditions decreased from 71.1 in September to 70.6 in October, while Index of Consumer Expectations declined from 65.8 to 59.3.
The University of Michigan commented: “This decline was driven in large part by higher-income consumers and those with sizable stock holdings, consistent with recent weakness in equity…
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