Economic Update: University of Michigan’s Consumer Sentiment Index
The final reading for the University of Michigan’s Consumer Sentiment Index for October was reported at 82.6, which was below the consensus for 82.8 and the preliminary reading of 83.1, but above last month’s reading of 78.3.
The October reading was the best level in the last twelve months and the highest seen since September 2007.
Note that there are two reports for the Confidence Index each month: Preliminary and Final.
Last 12 months for comparison purposes:
The Current Conditions component was reported at 88.1, which was above last month’s reading of 87.7 (Aug: 88.7, July: 82.7, June: 81.5, May: 87.2).
Finally, the twelve month Economic Outlook came in at 79.0, which was above last month’s 73.5 (Aug: 65.1, July: 65.6, June: 67.8).
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