U.S. consumer sentiment edges up in October
Reuters
Published Oct 16, 2020 10:53AM ET
(Reuters) - U.S. consumer sentiment inched up to a seven-month high in early October as an uptick in expectations for better economic prospects in the future outweighed a reversal in assessments of current conditions, a survey released Friday showed.
The Univeristy of Michigan's Surveys of Consumers said its preliminary index reading for October climbed to 81.2 from a final September level of 80.4. It was the highest level since March and modestly exceeded the median expectation of economists in a Reuters poll of 80.5.
The increase was led by a gain in the expectations index to 78.8, again the highest since March, from 75.6 in September. Economists were looking for a reading of 76.5. The current conditions index, meanwhile, slid to 84.9 from 87.8 and was short of a Reuters estimate of 88.5.
"Slowing employment growth, the resurgence in COVID-19 infections, and the absence of additional federal relief payments prompted consumers to become more concerned about the current economic conditions," Surveys of Consumers Chief Economist Richard Curtin said. "Those concerns were largely offset by continued small gains in economic prospects for the year ahead."
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.