Breaking: UoM Consumer Sentiment Index declines to 46.3 in October
American consumer confidence declined in early October, as households grew more pessimistic about current conditions and the broader economic outlook, according to preliminary data from the University of Michigan.
In early October, the University of Michigan's Consumer Sentiment Index fell to 46.3, down from 48.1 in September, falling short of the anticipated 47.3. The index's Current Conditions gauge dropped to 44.7 from 50.9, while the Expectations gauge increased to 47.3 from 46.3. Inflation expectations rose, with the one-year forecast climbing to 4.7% from 4.6%, and the five-year projection increasing to 3.5% from 3.4%.
The US Dollar strengthened amid ongoing concerns of Middle East tensions, with the US Dollar Index nearing its 2026 peak at 102.50.
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