US consumer sentiment 9.8 points above all-time low

Index of current economic conditions, however, jumps 5.6 points

By Ovunc Kutlu

ANKARA (AA) - US consumer sentiment in October is 9.8 points above its all-time low seen in June, a survey said Friday.

The index of consumer sentiment rose 1.2 points to 59.8 this month, from 58.6 last month, according to the University of Michigan's consumer survey preliminary results.

However, "continued uncertainty over the future trajectory of prices, economies, and financial markets around the world indicate a bumpy road ahead for consumers," it said.

The index of current economic conditions jumped 5.6 points to 65.3 in October, from 59.7 in September.

"Last month, long-run inflation expectations fell below the narrow 2.9-3.1% range for the first time since July 2021, but since then expectations have returned to that range at 2.9%," the survey said.

The index of consumer expectations, on the other hand, fell 1.8 points to 56.2 during that period from 58.0.

Kaynak:

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