US Consumer Sentiment Rises to Six-Month High on Rate Relief
- University of Michigan final October index at 70.5 vs 70.1
- Gain tied to better buying conditions, financing costs
The university's measure of buying conditions for durable goods picked up to a four-month high.
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Sentiment among US consumers increased in October to a six-month high as households grew more upbeat about buying conditions, partly because of cheaper financing costs.
The final October sentiment index rose to 70.5 from 70.1 a month earlier, according to the University of Michigan. The preliminary reading was 68.9.