UMich current conditions fell 12% in a month
Michigan's current conditions index fell from 50.9 to 44.7. That's a 12% drop in one month and the lowest reading ever.
Oddly, expectations rose, 46.3 to 47.3. People hate right now but think next year is better.
With 1yr inflation expectations at 4.7% I'm not sure why.
Sources: @LizAnnSonders: Oct UMich sentiment 46.3 vs 47.6 est; current conditions 44.7 vs 50.9 prior; expectations up to 47.3 vs · @PeterSchiff: current conditions index plunged to 44.7, the lowest ever, while year-ahead inflation expectations rose to · @DeItaone: UMich consumer sentiment fell to 46.3 in October, missing expectations of 47.8 and declining from 48.1 in Sep
Not financial advice. For informational and educational purposes only.
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