October UMich US consumer sentiment 55.0 vs 54.2 prelim

Details of the latest consumer sentiment report from the University of Michigan:

• Prior was 55.1
• Current conditions 61.0 vs 60.0 expected (prior 60.4)
• Expectations 51.2 vs 51.7 expected (prior 51.7)
• 1-year inflation 4.6% vs 4.7% prior
• 5-year inflation 3.7% vs 3.7% prior

This report is normally not a market mover but given the lack of real economic data, it might get a bit of attention.

From survey director Joanne Hsu:

“Improvements this month in current personal finances and year-ahead
business conditions were offset by declines in expectations for future
personal finances as well as current buying conditions for durables.
Overall, consumers perceive very few changes in the outlook for the
economy from last month. Pocketbook issues like high prices and
weakening job prospects remain at the forefront of consumers’ minds. At
this time, consumers do not expect meaningful improvement in these
factors. Meanwhile, interviews reveal little evidence that the ongoing
federal government shutdown has moved consumers’ views of the economy
thus far.”

Meanwhile, sentiment is good if you own stocks.

This article was written by Adam Button at investinglive.com.