Consumer Sentiment Down Slightly in October
October 12, 2018
The University of Michigan’s monthly survey of consumers came in at 99 in the first reading for the month. This is just shy of the 100.4 reading that economists had expected. October’s reading is down slightly from the previous month’s reading of 100.1.
The month’s reading continues the index’s slight slump that began in March, when it reached its highest levels since 2004. Despite this, the index remains historically high. For comparison’s sake, five years ago, the September 2013 reading was 77.5
The Index is based on a survey of 500 consumers, asking them to gauge their outlook on economic prospects, personal finances, inflation, unemployment, government policies, and interest rates.