UMICH FINAL OCTOBER FINAL CONSUMER SENTIMENT 48.0 VS 46.3 EXPECTED

What happened: The University of Michigan final October consumer sentiment reading came in at 48.0 versus 46.3 expected, with the preliminary figure at 48.1. Key numbers: Headline 48.0 vs 46.3 expected. Prior 46.3. Prelim 48.1. Current conditions 46.7 vs 50.9 prior. Expectations 48.4 vs 46.3 prior. 1-year inflation 4.7% vs 4.7% prior. 5-year inflation 3.5% vs 3.5% prior. Why it matters: The indicator is near all-time lows, but the content notes it has morphed into more of a political indicator than a spending one. The Fed still watches the inflation numbers.

The University of Michigan final October consumer sentiment reading came in at 48.0 versus 46.3 expected, with the preliminary figure at 48.1.

The indicator is near all-time lows, but the content notes it has morphed into more of a political indicator than a spending one. The Fed still watches the inflation numbers.