Friday, October 28, 2011

Consumer Sentiment increases in October, still very weak

by Bill McBride on 10/28/2011 09:55:00 AM

The final October Reuters / University of Michigan consumer sentiment index increased to 60.9, up from the preliminary October reading of 57.5, and up from 59.4 in September.

Consumer Sentiment
Click on graph for larger image.

In general consumer sentiment is a coincident indicator and is usually impacted by employment (and the unemployment rate) and gasoline prices. In August, sentiment was probably negatively impacted by the debt ceiling debate.

This was still very weak, but above the consensus forecast of 58.0.