Bening: October consumer sentiment falls shy of expectations, but confidence in economic policy is at a 15-year high

Friday, October 12, 2018

October consumer sentiment falls shy of expectations, but confidence in economic policy is at a 15-year high

Consumer sentiment in October fell just short of expectations on Friday.

The University of Michigan's monthly survey of consumers hit 99 in its preliminary reading for October, below the 100.4 expected from economists polled by Reuters.

"Confidence in the government's economic policies rose in October to its highest level in the past fifteen years (see the chart), reflecting the strong performance of the national economy," Richard Curtin, chief economist for The University of Michigan's survey, said in a statement.