Consumer sentiment in the U.S. deteriorated by slightly more than initially estimated in the month of October, the University of Michigan revealed in a report released on Friday.
Source: www.rttnews.com
The University of Michigan has reported that U.S. consumer sentiment has worsened more than initially projected in October. The consumer sentiment index was downwardly revised to 98.6 from the preliminary reading of 99.0, down from 100.1 in September. Despite a monthly decline, the index has averaged 98.5 thus far in 2008, the highest since 2000, which was the last year of the longest expansion since the mid-1800s. This comes on the back of the downward revision in the current economic conditions index which was revised to 113.1 from 114.4 in October (vs. 115.2 in September).
