Consumer sentiment falls to 5-month low as frustration mounts over higher costs
American consumer sentiment dropped in October to a five-month low, driven by mounting frustration over the rising cost of living and increased borrowing costs. According to the preliminary Michigan survey cited by Kitco and other reports, the sentiment index fell to 46.3 as inflation expectations rose and current conditions hit a record low. The latest reading leaves confidence just 1.5 points above its all-time low. This worsening economic outlook accompanies broader market activity that includes recovering stock prices despite elevated oil costs.
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- ✓ Consumer sentiment fell to a five-month low in October, reaching 46.3 according to the preliminary Michigan survey.
- ✓ Inflation expectations rose as Americans grew increasingly frustrated over higher costs and borrowing expenses.
- ✓ Consumer sentiment slipped to just 1.5 points above its all-time low, with current conditions reaching a record low.
What changed
Preliminary survey data for October confirmed that consumer sentiment dropped to a five-month low accompanied by rising inflation expectations.
Live updates
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US Consumer Sentiment Falls to Five-Month Low
American consumer sentiment dropped in October to a five-month low, driven by mounting frustration over the rising cost of living and increased borrowing costs. According to the preliminary Michigan survey cited by Kitco and other reports, the sentiment index fell to 46.3 as inflation expectations rose and current conditions hit a record low. The latest reading leaves confidence just 1.5 points above its all-time low. This worsening economic outlook accompanies broader market activity that includes recovering stock prices despite elevated oil costs.
Why it matters
Public confidence in the economy is sliding as upcoming midterm elections approach. Persistent cost pressures continue to weigh heavily on households, translating into historically weak sentiment readings that reflect deep consumer anxiety regarding personal finances and national economic direction.
What is confirmed
- Consumer sentiment fell to a five-month low in October, reaching 46.3 according to the preliminary Michigan survey.
- Inflation expectations rose as Americans grew increasingly frustrated over higher costs and borrowing expenses.
- Consumer sentiment slipped to just 1.5 points above its all-time low, with current conditions reaching a record low.
What to watch next
- Final consumer sentiment survey results for October
- Upcoming midterm election developments and related economic policy debates
confidence 95%Sources used for this update (12)
- Reuters — US consumer sentiment near record low as frustration over economy mounts
- Yahoo Finance — Consumer sentiment falls to 5-month low as frustration mounts over higher costs
- CNN — With midterms approaching, Americans’ confidence in the economy is in a tailspin
- Bloomberg.com — US Consumer Sentiment Falls to Five-Month Low in October
- KITCO — Gold price trades near high after preliminary Consumer Sentiment falls to 46.3, inflation expectations rise
- www.newsbreak.com — Oil eases, bringing some respite to stocks and battered bonds - NewsBreak
- WSJ — Consumer Sentiment Drops, per Michigan Survey
- us.cnn.com — With midterms approaching, Americans’ confidence in the economy is in a tailspin | CNN Business
- flipboard.com — Consumer sentiment falls to 5-month low as frustration mounts over higher costs
- finance.yahoo.com — Consumer sentiment falls to 5-month low as frustration mounts over higher costs
- pro.thestreet.com — Consumers’ View of Economic Conditions Hits All-Time Low
- finance.yahoo.com — Stocks Recovered From an AI-Fueled Drop To End The Week Despite Higher Oil Prices And Bond Yields
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