Link Securities | The index measuring US consumer sentiment, compiled by the University of Michigan, fell slightly in its preliminary October reading to 55.0 points from 55.1 points in September, falling below the 55.8 points expected by FactSet consensus analysts. The index remained virtually unchanged from the previous month, as improvements in current personal finances and future business conditions for the coming year were offset by declines in expectations for future personal finances and current conditions for purchasing durable goods.
Thus, the current economic conditions sub-index rose to 61.0 points from 60.4 points previously, while the expectations sub-index fell to 51.2 points from 51.7 points the previous month. Overall, consumers perceived little change in the economic outlook over the past month.Finally, one-year inflation expectations fell in October to 4.6 per cent, from 4.7 per cent in September, while long-term inflation expectations remained stable at 3.7 per cent.
