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Article: U.S. MICHIGAN SENTIMENT INDEX FELL TO 70.6 THIS MONTH UPDATE1
- Article from:
- US Fed News Service, Including US State News
- Article date:
- October 31, 2009
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ANN ARBOR, Mich., Oct. 30 -- The University of Michigan issued the following news release:
Confidence among U.S. consumers fell in October, indicating job losses will mute household spending even as the economy grows.
The Reuters/University of Michigan final index of consumer sentiment decreased to 70.6 from 73.5 in September, which was the highest in more than a year. The gauge was forecast to fall to 70, the median in a Bloomberg survey of economists.
Unemployment at a 26-year high threatens to suppress consumer spirits entering the Christmas-holiday shopping period. Americans reduced spending in September for the first time in five months after the government's auto-rebate program ended, ...