Follow-Up: Michigan Consumer Sentiment Finalized at 48.0 in October, Second-Lowest on Record
The University of Michigan's Surveys of Consumers reported on October 23 that its Consumer Sentiment Index was finalized at 48.0 for October, revised up from the preliminary reading of 46.3 published earlier this month and above economists' forecasts, but still a shade below September's final 48.1. The reading is the second-lowest on record, behind only the all-time low of 44.8 set in May, not long after the Iran war began; the index stood at 53.6 in October last year.
By component, the Current Economic Conditions Index was finalized at 46.7, down from 50.9 in September, while the Index of Consumer Expectations rose to 48.8 from 46.3. Consumers' expectations for inflation over the next year nudged up to 4.7% from 4.6% in September, having surged from 3.4% in February, and five-year inflation expectations rose to 3.5% from 3.4%. About 69% of consumers expect interest rates to rise in the year ahead, the highest share since April 2023.
"Purchasing power continues to dominate consumer views of the economy," said Surveys of Consumers Director Joanne Hsu, noting that sentiment is now 10% below a year ago and 15% below February, just prior to the Iran conflict. The share of consumers spontaneously mentioning that high prices are dragging down their personal finances rose for a fourth straight month to 56%, up from 45% in January, and gasoline prices were mentioned unprompted by more than 40% of respondents. According to Reuters, sentiment among both Democrats and Republicans improved in October, but a drop among independents, to 42.4 from 47.7 in September, pulled the overall index down.
The final reading landed less than two weeks before the November 3 midterm elections. The University of Michigan says the survey is a nationally representative sample interviewed by web throughout the month.
Source: GSM · USA (original Chinese edition)
Photo: 密歇根大学 Ann Arbor 校区化学楼（资料图），w_lemay 摄，CC BY-SA 2.0，经维基共享资源
- 2026-10-10Michigan Consumer Sentiment Falls to 46.3 in Early October, Near Record Low as Current Conditions Hit All-Time Low
- 2026-10-23Follow-Up: Michigan Consumer Sentiment Finalized at 48.0 in October, Second-Lowest on RecordThis story
