UMich Sentiment Survey Reveals Unexpected October Results
The UMich Sentiment survey for October has yielded some unexpected results. The final data showed a significant increase, reaching 70.5, as compared to the expected 69.0 and the prior 70.1. This was notably higher than the preliminary print of 68.9. Both the current conditions and expectations sub-indexes saw a substantial rise from their flash prints, although the latter recorded a month-on-month dip.
Inflation Expectations Fall
Inflation expectations took a downward turn, settling at 2.7%. This is more or less consistent with the general trend observed in the Conference Board's inflation expectations.
Impact of Upcoming Election on Consumer Expectations
The forthcoming election is casting a significant shadow over consumer expectations. The percentage of consumers expecting a Harris presidency has fallen from 63% last month to 57% in October.
On the other hand, Republicans, who believe that a Trump presidency would be beneficial for the economy, saw an 8% rise in sentiment. This is due to growing confidence that their preferred candidate will be the next president.
In contrast, Democrats experienced a 1% decrease in sentiment. As is typically the case, Independents fall somewhere in the middle, with a 4% increase in sentiment this month.
Election Results to Influence Economic Expectations
Regardless of who emerges victorious in the election, a significant portion of consumers will likely adjust their economic expectations based on the election results.
Bottom Line
The final UMich Sentiment survey for October has revealed some surprising results, with a significant increase in the final data. The upcoming election is playing a significant role in shaping consumer expectations, with a Harris presidency becoming less likely in the eyes of consumers. However, no matter who wins the election, it's clear that the results will have a considerable impact on economic expectations. What are your thoughts on these findings? Feel free to share this article with your friends. Don't forget to sign up for the Daily Briefing, delivered every day at 6pm.
UMich Sentiment Survey Reveals Unexpected October Results
The UMich Sentiment survey for October has yielded some unexpected results. The final data showed a significant increase, reaching 70.5, as compared to the expected 69.0 and the prior 70.1. This was notably higher than the preliminary print of 68.9. Both the current conditions and expectations sub-indexes saw a substantial rise from their flash prints, although the latter recorded a month-on-month dip.
Inflation Expectations Fall
Inflation expectations took a downward turn, settling at 2.7%. This is more or less consistent with the general trend observed in the Conference Board's inflation expectations.
Impact of Upcoming Election on Consumer Expectations
The forthcoming election is casting a significant shadow over consumer expectations. The percentage of consumers expecting a Harris presidency has fallen from 63% last month to 57% in October.
On the other hand, Republicans, who believe that a Trump presidency would be beneficial for the economy, saw an 8% rise in sentiment. This is due to growing confidence that their preferred candidate will be the next president.
In contrast, Democrats experienced a 1% decrease in sentiment. As is typically the case, Independents fall somewhere in the middle, with a 4% increase in sentiment this month.
Election Results to Influence Economic Expectations
Regardless of who emerges victorious in the election, a significant portion of consumers will likely adjust their economic expectations based on the election results.
Bottom Line
The final UMich Sentiment survey for October has revealed some surprising results, with a significant increase in the final data. The upcoming election is playing a significant role in shaping consumer expectations, with a Harris presidency becoming less likely in the eyes of consumers. However, no matter who wins the election, it's clear that the results will have a considerable impact on economic expectations. What are your thoughts on these findings? Feel free to share this article with your friends. Don't forget to sign up for the Daily Briefing, delivered every day at 6pm.
