Michigan Consumer Sentiment Is Grim But Better than Expected

by Doug Short, Advisor Perspectives/dshort.com The University of Michigan Consumer Sentiment Index final report for October came in at 60.9, a welcome improvement from the 57.5 preliminary report from two weeks ago but still reflective of a recessionary mindset. The Briefing.com consensus expectation was for 58.0.

Michigan Consumer Sentiment Declines

The U. of Mich. index is at the lowest non-recessionary level ever except for the 55.7 reading in August. The last three readings (including this one) are dramatically below any other post-recession readings and only the reading of 60 five months before the 1981 recession started is even close for sentiment going into a recession.