Michigan Consumer Sentiment Falls to 46.3 in Early October, Near Record Low as Current Conditions Hit All-Time Low
The University of Michigan's Consumer Sentiment Index fell to a preliminary 46.3 in early October from a final 48.1 in September, below economists' expectations of about 47.8 and the lowest since May's record low of 44.8, the university reported Friday (Oct. 9). If the reading holds at month's end, it would be the second-lowest on record. The current conditions index plunged from 50.9 to a record-low 44.7 as buying conditions for durable goods deteriorated amid high prices and borrowing costs, while the expectations index edged up from 46.3 to 47.3.
Inflation expectations ticked higher on both horizons: year-ahead expectations rose to 4.7% from 4.6% in September, and long-run expectations to 3.5% from 3.4%, both the highest since May. Surveys of Consumers Director Joanne Hsu said frustration over the cost of living continues to mount across the political spectrum, and that sentiment dropped especially steeply among lower-income consumers and those with smaller stock portfolios, who have fewer resources to weather price increases.
The survey was conducted between Sept. 22 and Oct. 5. Analysts note that actual consumer spending has so far remained resilient, supported by stock-market wealth gains and a stable job market, even as sentiment sits near historic lows ahead of the midterm elections, with high fuel prices and rising inflation expectations weighing on households. The Federal Reserve also watches inflation expectations closely.
(Sources: University of Michigan Surveys of Consumers via Reuters, WSJ, CNN)
Source: GSM · USA (original Chinese edition)
Photo: 图：密歇根大学安娜堡校区法学院建筑群（Law Quadrangle）。摄影：w_lemay，CC BY-SA 2.0，来源：Wikimedia Commons
- 2026-10-10Michigan Consumer Sentiment Falls to 46.3 in Early October, Near Record Low as Current Conditions Hit All-Time LowThis story
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