US Consumer Sentiment Revised Higher but Remains Weak
The University of Michigan’s consumer sentiment index was revised higher to 48.0 in late October 2026, up from a preliminary estimate of 46.3, but remained at its lowest level in five months. Gains in sentiment among Republicans and Democrats were offset by declines among independents. Year-ahead business conditions improved by around 14%, although the index ...
The University of Michigan's consumer sentiment index, which has been revised higher to 48.0 as of late October 2026, remains at its weakest point in five months despite improving gains among Republicans and Democrats. The offsetting decline in sentiment among independents has kept the index down. Year-ahead business conditions have shown a positive improvement of around 14%, but the index is still 16% below its October 2025 level.
The Current Conditions subindex has seen a decline, mainly due to a sharp drop in buying conditions for durable goods, which fell by 18% due to higher interest rates and growing affordability concerns. Consumer purchasing power remains a significant focus of economic views, with sentiment being 10% lower than a year ago and 15% lower than February, just before the Iran conflict.
Inflation expectations have also slightly risen, with year-ahead inflation expectations increasing to 4.7% from 4.6% in September, and long-run inflation expectations climbing to 3.5% from 3.4%.
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