Consumer sentiment from the University of Michigan
- Final October reading was 71.7
- Current conditions 73.2 vs 77.7 prior
- Expectations 62.8 vs 67.9 prior
- 1-year inflation 4.9% vs 4.8% prior
- 5-10 year inflation 2.9% vs 2.9% prior
This is the lowest in a decade and the University of Michigan noted that one-in-four consumcer cited inflationary reductions in their living standards. Half of households anticipated reduced real incomes next year.
The caveat in this report is that there are major partisan political differences. More than anything, it reflects the political mood and increasing hyper-partisanship around everything in the US.
