US consumer sentiment improves in October
US consumer sentiment improved in October, albeit a touch less than initially estimated, according final figures released by the University of Michigan on Friday.
The consumer sentiment index rose to 95.5 from 93.2 in September, but was down from last October's reading of 98.6 and from the initial estimate of 96.
The index of current economic conditions printed at 113.2 this month from 108.5 in September and 113.1 in October 2018.
The index of consumer expectations ticked up to 84.2 from 83.4 last month but was below last October's 89.3.
Surveys of Consumers chief economist Richard Curtin said the overall level of consumer confidence has remained quite favourable and largely unchanged during the past few years.
"The October level was nearly identical to the 2019 average (95.6) and only a few index-points below the average since the start of 2017 (97.0)," he said.
"The focus of consumers has been on income and job growth, while largely ignoring other news. The most spontaneous references were to the negative impact of tariffs, which fell to 27% in October from last month's 36%; the impeachment inquiry totalled just 2% in October, less than the 5% who mentioned a negative impact from the GM strike.
"To be sure, the multiple sources of uncertainty will keep consumers focused on potential threats to their prevailing optimism, with the most critical being threats that could significantly diminish their job and income prospects."