UoM Index: U.S. Consumer Sentiment Decreased in Early October

Consumer sentiment in the U.S. slightly and unexpectedly decreased in early October as the spread of the Covid-19 Delta variant and supply-chain strains impacted the Americans’ mood.

Americans grew more concerned about both current conditions and the economic outlook. The preliminary estimate of the index of consumer sentiment released Friday by the University of Michigan decreased to 71.4 in October from 72.8 in September.

This is the Index’s the second-lowest level since 2011. The University of Michigan’s preliminary sentiment index’s figure came in below the median 73.1 in a Bloomberg survey of economists.