Survey: U.S. consumer sentiment improved in October
Washington — The University of Michigan says consumers are feeling more confident this month.
The university’s index of consumer sentiment rose to 90 after dropping to 87.2 in September from 91.9 in August. Richard Curtin, chief economist for the university’s consumer surveys, says the entire gain came from better spirits among lower-income households. Wealthier consumers were a bit less confident, worried about gyrations in financial markets that reflect deteriorating economic conditions overseas.
Curtin says consumers are spending healthily but still want to see discounts when they go shopping. In its report on third-quarter economic growth Thursday, the Commerce Department said consumer spending rose at a robust 3.2 percent annual pace from July through September.
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