The preliminary results of the University of Michigan’s October consumer confidence survey are out.
The headline index fell to 75.2 from September’s 77.5 reading. Expectations were for a slightly smaller drop to 75.3.
The economic conditions sub-index rose to 92.8 from 92.6, while the economic outlook index fell to 63.9 from 67.8.
Inflation expectations a year out fell to 2.9% from 3.3%, while expectations for a five years out fell to 2.8% from 3.0%.
High-frequency measures of confidence, like Gallup’s daily tracking poll, have shown a big dive in confidence since the government shutdown began October 1.
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