The final consumer sentiment reading for October from the University of Michigan outperformed economist forecasts of 46.3. The index finished at 48.0, marking a marginal decline from the 48.1 recorded in September.
Inflation expectations rose in the report, with the one-year outlook increasing to 4.7% from 4.6% and the five-year outlook climbing to 3.5% from 3.4%. While consumer expectations improved to 48.8 from a previous 46.3, the measurement for current conditions fell to 46.7 from 50.9.