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Consumer morale in America rises to its highest level in 6 months

Consumer morale in America rises to its highest level in 6 months

The University of Michigan Consumer Sentiment Index rose to 70.5 points this month, the highest level since April, from a final reading of 70.1 points in September.

The result beat the average estimate of economists polled by Reuters by registering a reading of 69.0 points, and also increased from a preliminary rate of 68.9 points two weeks ago.

As has been the case for many years, the details of the report showed widespread partisan bias. In October, consumers who identified themselves as Republicans led the overall increase in sentiment, while it declined among Democrats.

Republican consumer sentiment rose 7.8 percent, the highest since February, and independent consumer sentiment increased 4.1 percent, the highest since January.

On the other hand, it decreased Consumer sentiment Democrats for the first time since July, down 1.3 percent.



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