Economics
Consumer Sentiment in U.S. Falls to Second-Lowest Since 2011
- University of Michigan gauge at 71.4, missing 73.1 estimate
- Buying conditions slump, inflation expectations jump
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U.S. consumer sentiment fell unexpectedly in early October to the second-lowest level since 2011, as Americans grew more concerned about both current conditions and the economic outlook.
The University of Michigan’s preliminary sentiment index fell to 71.4 from 72.8 in September, data released Friday showed. The figure came in below the median 73.1 in a Bloomberg survey of economists.