The U.S. government shutdown, now in its 10th day, has had little influence over consumer sentiment, according to a University of Michigan survey released on Oct. 10.
The October Consumer Sentiment Index came in at a higher-than-expected 55, down from 55.1 in September. The market consensus penciled in a reading of 54.2.
Improvements were observed in current personal finances and year-ahead business conditions. The index for current economic conditions ticked up to 61.0 from 60.4
This essentially offset the declines in expectations for future personal finances and current buying conditions for durables, says Joanne Hsu, the university’s director of consumer surveys. The index for consumer expectations dipped to 51.2 from 51.7….