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US consumer sentiment softened slightly in October, with the University of Michigan index slipping marginally from 55.1 to 55.0, in line with expectations. The details painted a mixed picture—Current Economic Conditions improved to 61.0 from 60.4, while the Expectations Index edged lower to 51.2 from 51.7. The survey showed that improvements in current personal finances […]
The post US UoM consumer sentiment ticks down to 55.0, inflation expectations remain stubbornly high appeared first on Action Forex.
Details of the latest consumer sentiment report from the University of Michigan:
This report is normally not a market mover but given the lack of real economic data, it might get a bit of attention.
From survey director Joanne Hsu:
“Improvements this month in current personal finances and year-ahead
business conditions were offset by declines in expectations for future
personal finances as well as current buying conditions for durables.
Overall, consumers perceive very few changes in the outlook for the
economy from last month. Pocketbook issues like high prices and
weakening job prospects remain at the forefront of consumers’ minds. At
this time, consumers do not expect meaningful improvement in these
factors. Meanwhile, interviews reveal little evidence that the ongoing
federal government shutdown has moved consumers’ views of the economy
thus far.”
Meanwhile, sentiment is good if you own stocks.
This article was written by Adam Button at investinglive.com.
Details of the latest consumer sentiment report from the University of Michigan:
This report is normally not a market mover but given the lack of real economic data, it might get a bit of attention.
From survey director Joanne Hsu:
“Improvements this month in current personal finances and year-ahead
business conditions were offset by declines in expectations for future
personal finances as well as current buying conditions for durables.
Overall, consumers perceive very few changes in the outlook for the
economy from last month. Pocketbook issues like high prices and
weakening job prospects remain at the forefront of consumers’ minds. At
this time, consumers do not expect meaningful improvement in these
factors. Meanwhile, interviews reveal little evidence that the ongoing
federal government shutdown has moved consumers’ views of the economy
thus far.”
Meanwhile, sentiment is good if you own stocks.
This article was written by Adam Button at investinglive.com.
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