U.S. Consumer Sentiment Improves Slightly More Than Initially Estimated In October

Consumer sentiment in the U.S. improved slightly more than initially estimated in the month of October, according to revised data released by the University of Michigan on Friday.

The report showed the consumer sentiment index for October was upwardly revised to 81.8 from the preliminary reading of 81.2. Economists had expected the reading to be unrevised.

With upward revision, the consumer sentiment index is a bit further above the final September reading of 80.4.

The uptick by the headline index came as the index of consumer expectations climbed to 79.2 in October from 75.6 in September.

On the other hand, the current economic conditions index fell to 85.9 in October from 87.8 in the previous month.

The report said one-year inflation expectations were unchanged at 2.6 percent, while five-year inflation expectations fell to 2.4 percent in October from 2.7 percent in September.

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