Consumers remain skittish in October: Consumer sentiment decreased for the third consecutive month, down 0.1 index points to 55.0 and substantially below the historical average. Gains in personal finances and future business conditions offset declines in expectations for future personal finances and current buying conditions for durables.
Why it matters: If consumer sentiment and expectations of future personal finances remain poor, consumers will adjust their spending habits accordingly, which will become a drag on economic growth.
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