The US Consumer Confidence Index fell to 46.3 in October, and inflation expectations slightly increased

According to a survey by the University of Michigan, the initial consumer confidence index in the United States fell to 46.3 in October, hitting a new low since May. The current situation indicator has dropped to 44.7, the lowest in history. The expected indicator has risen to 47.3. Consumers expect prices to rise by 4.7% in the next year, with an average annual increase of 3.5% over the next 5 to 10 years. Joanne Hsu stated that consumer confidence in low-income and smaller stock portfolios has significantly decreased, and the decline in independent confidence has offset the increase in confidence among Democratic and Republican supporters. Consumers with various political orientations believe that the economic outlook is weaker than before the outbreak of the Iran conflict.