The closely watched consumer sentiment survey from the University of Michigan shows that Americans’ confidence in the economy tumbled in October after two months of small gains, with frustration over high prices to blame.
The University of Michigan’s preliminary consumer sentiment reading, released on Oct. 11, came in at 68.9 for October, a decline from September’s final reading of 70.1. That’s a drop of 1.2 points and lower than market predictions for a reading of 70.8.
