The Consumer Sentiment Index in the United States came in at 59.8 points in October, rising 2.0% month on month, said a report published by the University of Michigan on Friday. However, the index showed a decrease of 16.6% annually.
The Current Economic Conditions Index went up 9.4% to 65.3 in the same month compared to the month prior but plummeted 16.0% year over year. Meanwhile, the Index of Consumer Expectations fell 3.1% month on month to 56.2 points and decreased by 17.2% annually.
"Continued uncertainty over the future trajectory of prices, economies, and financial markets around the world indicate a bumpy road ahead for consumers," said the report, while adding that "after three months of expecting minimal increases in gas prices in the year ahead, both short and longer run expectations rebounded in October.
