US consumer sentiment edges lower in October
By Iain Gilbert
Date: Friday 23 Oct 2026
(Sharecast News) - US consumer sentiment was little changed in October, according to the University of Michigan, slipping just 0.2% from September to 48 as firmer expectations were offset by a sharp drop in views of current conditions.
The current conditions index fell 8.3% on the month, driven entirely by a steep deterioration in buying conditions for durable goods amid higher interest rates and mounting affordability concerns. Overall sentiment now sits 10% below year‑ago levels and 15% beneath February's reading, just before the Iran conflict.
The expectations index improved 5.4% to 48.8, helped by stronger year‑ahead business conditions views, though respondents still judged the outlook to be materially weaker than last October.
Inflation expectations moved higher for a second month, with the year‑ahead measure ticking up to 4.7% and long‑run expectations rising to 3.5% - both at their highest levels since May and well above 2024 ranges.
Survey director Joanne Hsu said purchasing power remained the dominant influence on consumers' economic assessments, with political‑group gains in sentiment offset by declines among independents.
Reporting by Iain Gilbert at Sharecast.com
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