Consumer sentiment in the United States cooled slightly in early October

Consumer sentiment in the United States cooled slightly in early October https://i2.wp.com/www.eresviral.com/wp-content/uploads/2018/10/El-sentimiento-del-consumidor-de-los-Estados-Unidos-se-enfrió-ligeramente-a-principios-de-octubre.jpg?fit=219%2C146&ssl=1

Consumer sentiment in the United States cooled slightly in early October





A measure of economic confidence among US households declined in early October, but remained at a high level. 
On Friday, the University of Michigan said its preliminary consumer confidence index in the United States fell to 99.0 in October from 100.1 in September.
Sentiment about current economic conditions decreased in October, while economic expectations also weakened.


    Richard Curtin, chief economist of the survey, said the sentiment was brought down by the less optimistic assessment of consumers of their personal finances.

"Unfortunately, the downward revisions in the rate of growth of household income were accompanied by upward revisions in the expected inflation rate of the previous year, which weakened expectations of real income," said Curtin.

Expectations of stronger inflation had been growing this year. Short-term inflation expectations increased in October to 2.8% from 2.7% a month earlier. However, long-term inflation expectations fell.

More generally, measures of consumer confidence have improved significantly since the end of 2016, supported by a historically low unemployment rate, constant income gains and a growing stock market.

In September, the Council of the Conference measure reached a maximum of 18 years.

Earlier this week, stock markets around the world suffered its biggest shake since February on concerns about the strong rise in bond yields, higher oil prices and commercial construction tensions. 

While fluctuations in the stock market may influence consumer confidence, Mr. Curtin noted that the strong selling of the stock market had "virtually no influence" on the October preliminary data.

Elsewhere in Friday's report, confidence in the government's economic policies rose to the highest level in 15 years in October, mainly because Democrats expressed a little more confidence, although still much less than Republicans.

Since the 2016 presidential election, the divergence in sentiment on the part of the political party has been particularly pronounced, with a divide between optimistic Democrats and optimistic Republicans since the 2016 elections. The index for self-identified Democrats reached 81.8 in October versus 128.2 for the Republicans.

 Write to Sarah Chaney in sarah.chaney@wsj.com



  !function(f,b,e,v,n,t,s)

  {if(f.fbq)return;n=f.fbq=function(){n.callMethod?

  n.callMethod.apply(n,arguments):n.queue.push(arguments)};

  if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';

  n.queue=[];t=b.createElement(e);t.async=!0;

  t.src=v;s=b.getElementsByTagName(e)[0];

  s.parentNode.insertBefore(t,s)}(window, document,'script',

  'https://connect.facebook.net/en_US/fbevents.js');

  fbq('init', '369524843414444');

  fbq('track', 'PageView');

    .


SOURCE LINK ERESVIRAL.COM 
https://www.beviral.online