University of Michigan sentiment falls to 46.3
The reading is the lowest in the series, down from 48.1 in September and short of the 47.6 forecast.
Published
The University of Michigan's consumer sentiment index fell to 46.3 in October, missing the forecast of 47.6 and down from 48.1 in September.
It is the third straight month the index has come in below expectations, extending a slide that began at 51.7 in August and continued at 47.8 in early September before settling at 48.1 later that month.
US gas prices were higher during the October survey window than in September, according to Admiral Markets, and FXStreet reported that crude oil prices had picked up ahead of the release on concerns over renewed Middle East tensions. The index's record low of 44.8 came in May 2026, when the Iran war pushed fuel prices higher, Admiral Markets said. A year ago, the headline reading stood at 55.1, according to Briefing.com.
The decline runs through a period that included a government shutdown and inflation expectations lingering near 4.6%, adding to evidence of a weakening consumer rather than marking a new turn. With the index now at its lowest point in the series, the question is whether spending data eventually bears out what sentiment surveys have been signaling for two months.