University of Michigan's Index of Consumer Sentiment posts preliminary October level of 59.8, up from September's 58.6; buying conditions for durables improved due to easing supply constraints

Sample article from our Consumer Wellness

October 14, 2022 (press release) –

Preliminary Results for October 2022

  Oct Sep Oct M-M Y-Y
  2022 2022 2021 Change Change
Index of Consumer Sentiment 59.8 58.6 71.7 +2.0% -16.6%
Current Economic Conditions 65.3 59.7 77.7 +9.4% -16.0%
Index of Consumer Expectations 56.2 58.0 67.9 -3.1% -17.2%


Read our October 7th report, Confidence in Financial Institutions.
Next data release: Friday, October 28, 2022 for Final October data at 10am ET

Surveys of Consumers Marks Leadership Change

Surveys of Consumers Director Joanne Hsu
Consumer sentiment is essentially unchanged at 1.2 index points above September, in spite of a 23% improvement in current buying conditions for durables owing to an easing in supply constraints. Sentiment is now 9.8 points above the all-time low reached in June, but this improvement remains tentative, as the expectations index declined by 3% from last month. Continued uncertainty over the future trajectory of prices, economies, and financial markets around the world indicate a bumpy road ahead for consumers.
The median expected year-ahead inflation rate rose to 5.1%, with increases reported across age, income, and education. Last month, long run inflation expectations fell below the narrow 2.9-3.1% range for the first time since July 2021, but since then expectations have returned to that range at 2.9%. After 3 months of expecting minimal increases in gas prices in the year ahead, both short and longer run expectations rebounded in October.


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Dan Rivard
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