US consumer sentiment falls to five-month low
The University of Michigan's final Consumer Sentiment Index for October was revised upward to 48 from the preliminary reading of 46.3.
However, the index remained below September's level of 48.1, marking its lowest reading in five months. The Current Economic Conditions Index declined to 46.7, while the Consumer Expectations Index rose to 48.8.
Rising inflation expectations also drew attention. Consumers' inflation expectations for the next 12 months increased from 4.6% to 4.7%, while long-term inflation expectations climbed from 3.4% to 3.5%. Both indicators rose for the second consecutive month, reaching their highest levels since May. The University of Michigan noted that concerns about purchasing power continue to weigh on consumer confidence.
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