US consumer confidence index loses 1.1 points

Economy 10/12/2018, 4:01 PM
US consumer confidence index loses 1.1 points

Both the assessment of current conditions and expectations slipped this month, according to researchers from the University of Michigan. The headline measure of consumer enthusiasm in the United States came in at 99 points in preliminary terms, still strong historically as it was the sixth highest in this century, but down 1.1 points from September. The annual change was also negative, at 1.7 points.

The present situation component fell by 0.8 points to 114.4 and the forward-looking one surrendered 1.4 points to land at 89.1. Confidence in the government’s economic policies rose to the highest mark in fifteen years.

Inflation expectations for the year ahead were pushed 0.1 percentage points higher, to 2.8%, which authors said impacted the outlook for household incomes. The five-year measure, on the other hand, fell 0.2 points to 2.3%, the lowest since December 2016.

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