UMich consumer sentiment survey for October
- Prior was 72.8
- Current conditions 77.9 vs 80.1 prior
- Expectations 67.2 vs 68.1 prior
- 1-year inflation 4.8% vs 4.6% prior
- 5-10 year inflation 2.8% vs 3.0% prior
As today's retail sales report showed, this data point has a terrible recent track record of tracking the consumer, and it's long term record isn't much better. There was a time when this was top-tier data but it's quickly falling into irrelevancy aside from the inflation expectations numbers.
It's a mixed bag on the inflation side with one-year expectations ticking even higher while longer term expectations dipped. The Fed's more likely to pay attention to those longer numbers.
