Consumer sentiment fell to a five-month low, according to a University of Michigan survey, as inflation pressures from the Iran war and tariffs continued to strain American households.
A preliminary reading of October consumer sentiment dropped to 46.3, its lowest reading since May, which represented the record low. The index dropped 1.8 points from September’s reading.
“Frustration over cost-of-living continues to mount, as consumers across the political spectrum believe that the trajectory of the economy has weakened since the beginning of the year,” the survey’s director, Joanne Hsu, said in a statement.
Yahoo Finance
