(University of Michigan) US consumer sentiment index rose by only 0.3 points from mid-October level to 71.7, remaining 1.5% below last month.
Consumer sentiment is now 0.1 points above the average for the past two months. On a year-over-year basis, the consumer sentiment was down by 12.3%.
The slow increase in consumer sentiment reflects inflation concerns and a fall in confidence in the government’s economic policies. Consumers expect the highest inflation since 2008 next year.
The Current Economic Conditions Index was reported at 77.7, a 3.0% decline from September. The index was down by 9.5% from the prior year.
The Index of Consumer Expectations was down by 0.3% from September to 67.9 in October. The index was down by 14.3% on a yearly basis.
SPY is down -0.33%, DXY is up +0.53%.
