Breaking News

U.S. Consumer Sentiment Surges in October

Economic IndicatorsOct 13, 2017 09:47AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
© Reuters. Consumer sentiment rose more than expected.

Investing.com – U.S. consumer sentiment increased more than expected in October, boosting optimism over the American economy, according to a report published on Friday.

The preliminary publication of the data for September from the University of Michigan's Consumer Survey Center showed that consumer sentiment jumped to 101.1 from 95.1 in the previous month.

Analysts had forecast the reading to fall to 95.0.

The current conditions indicator advanced to 116.4 in October, from the previous 111.7

Consumer expectations rose to 91.3 in October, from the prior reading of 84.4.

Meanwhile, inflation expectations for the next 12 months declined to 2.3%.

Consumers do not expect an economic downturn anytime soon, with a positive outlook for consumer spending that would mark the second longest expansion since the mid 1800s, said University of Michigan Chief Economist Richard Curtin.

"While the early October surge indicates greater optimism about the future course of the economy, it also reflects an unmistakable sense among consumers that economic prospects are now about as good as could be expected," he said.

Despite the optimism, consumers seem to have accepted slower growth to living conditions, as they anticipate low unemployment, low inflation and modest income gains, Curtin added.

After the report, EUR/USD was trading at 1.1862 from around 1.1866 ahead of the release of the data, GBP/USD was at 1.3314, compared to 1.3320 previously, while USD/JPY was at 111.83 from 111.76 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 92.68 compared to 92.64 before the report.

U.S. Consumer Sentiment Surges in October

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
Sign up with Email