U.S. consumer sentiment fell sharply in October as households anticipated higher inflation over the next year, a survey showed Friday.
The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 63.0 this month compared to 68.1 in September. Economists polled by Reuters had forecast a preliminary reading of 67.2.
"Nearly all demographic groups posted setbacks in sentiment, reflecting the continued weight of high prices," Joanne Hsu, the director of the University of Michigan's Surveys of Consumers, said in a statement. The survey's reading of one-year inflation expectations increased to 3.8% this month from 3.2% in September.
The five-year inflation outlook rose to 3.0% from 2.8% in the prior month, staying within the narrow 2.9-3.1% range for 25 of the last 27 months.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
US consumer sentiment sours in October; dollar helping inflation fightUS consumer sentiment sours in October; dollar helping inflation fight
Baca lebih lajut »
U.S. consumer sentiment drops sharply in October to lowest level since MayInflation expectations rise to highest level in six months
Baca lebih lajut »
Consumer Sentiment Plunges as Inflation Fears Mount and Expected Business Conditions CrashSource of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Baca lebih lajut »
USD/CAD Price Analysis: Maintains position above 1.3650 ahead of US Consumer SentimentUSD/CAD snaps a two-day winning streak on the back of the recent increase in Crude oil prices. However, the pair received upward support after the rel
Baca lebih lajut »
USD/JPY consolidates near 149.70 ahead of the US Consumer SentimentUSD/JPY trades lower around 149.70 during the European session on Friday, snapping a three-day winning streak that began on Tuesday. Despite reaching
Baca lebih lajut »