US October prelim UMich consumer sentiment 71.4 vs 73.1 expected

UMich consumer sentiment survey for October

• Prior was 72.8
• Current conditions 77.9 vs 80.1 prior
  
• Expectations 67.2 vs 68.1 prior
  
• 1-year inflation 4.8% vs 4.6% prior
  
• 5-10 year inflation 2.8% vs 3.0% prior
  

As today's retail sales report showed, this data point has a terrible recent track record of tracking the consumer, and it's long term record isn't much better. There was a time when this was top-tier data but it's quickly falling into irrelevancy aside from the inflation expectations numbers.

It's a mixed bag on the inflation side with one-year expectations ticking even higher while longer term expectations dipped. The Fed's more likely to pay attention to those longer numbers.

Invest in yourself. See our forex education hub.


October 16, 2021 at 02:00AM
Adam Button
https://ift.tt/3BPfMo7