Consumer sentiment reaches a 9-month low
U.S. consumer sentiment fell to its lowest level in nine months as the first federal government shutdown in 17 years undermined the economic outlook of many Americans, a Reuters article reported.
The Thomson Reuters/University of Michigan's preliminary reading on the overall index on consumer sentiment fell to 75.2 in October, down from 77.5 in September. This was the lowest figure since January.
While the sentiment gauge declined for a third straight month, the size of the decrease was relatively small, as worries about a protracted shutdown were mitigated by some optimism about income and inflation, survey director Richard Curtin said.