Companies and Brands
October Consumer Sentiment Rises Handily Above All Expectations
Published:
Last Updated:
The Reuters/University of Michigan consumer sentiment reading is out showing the preliminary October report. It gave a sentiment reading 83.1. This was well above the Bloomberg consensus reading of 78.3 (with a range of estimates of 75 to 81), and Dow Jones was calling for a reading of 78.0 for this latest preliminary sentiment report. In short, this was higher than all expectations.
The current index was 88.6 and the expectations index was 79.5. The five-year inflation forecast was also put at a higher than comfortable 2.6%.
Today’s report is a preliminary one that will be adjusted in two weeks. It is also important to realize that the University of Michigan’s Consumer Survey Center questions only 500 households about their financial conditions and attitudes about the economy each month. With only 500 samples, this can have a wider degree of error than more broad-based reports. It is far smaller than the Conference Board’s Consumer Confidence report each month.
Bloomberg notes, “Consumer sentiment is directly related to the strength of consumer spending. Consumer confidence and consumer sentiment are two ways of talking about consumer attitudes.”
JON C. OGG
100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
