US: UoM Consumer Sentiment Index improves to 81.2 in October vs. 80.5 expected
|- Consumer confidence in the US continued to improve in October.
- US Dollar Index largely ignored this data and stays in red near 93.60.
The Consumer Sentiment Index in the US rose from 80.4 in September 81.2 (preliminary) in October, the University of Michigan's latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation of 80.5.
Further details of the publication revealed that the Current Economic Conditions Index edged lower to 84.9 from 87.8 and the Index of Consumer Expectations improved to 78.8 from 75.6.
Commenting on the data, "slowing employment growth, the resurgence in COVID-19 infections, and the absence of additional federal relief payments prompted consumers to become more concerned about the current economic conditions," said Surveys of Consumers chief economist, Richard Curtin. "Those concerns were largely offset by continued small gains in economic prospects for the year ahead."
Market reaction
The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.12% on the day at 93.67.
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