Consumer Sentiment in U.S. Matches Lowest Reading Since 2014
- Survey director attributes part of recent drop to election
- Long-term inflation expectations decline to lowest on record
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Consumer confidence dropped more than previously reported to match the lowest level since 2014, with Americans less upbeat about both current and future conditions in the weeks before the presidential election.
The University of Michigan said Friday that its final index of sentiment fell to 87.2 from 91.2 in September. The median projection in a Bloomberg survey called for 88.2 after a preliminary reading of 87.9 earlier this month. Long-term inflation expectations declined to a record low.