Consumer Sentiment Down in October

According to the Reuters/University of Michigan index, consumer sentiment fell sharply in October, plunging from 73.5 to 69.4 throughout the course of the month. The result is worse than analysts expected, as the average analyst estimate for the state of consumer sentiment this month was 72.0, signaling that the economy might be more difficult to predict than would be hoped.
September’s consumer sentiment level marked an 8 point jump to its highest level since January 2008 and a moderate decline from that number was expected as a natural part of economic recovery. Analysts say that the drop indicates that the U.S. …read more