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Indicating that Americans may have a less favorable view of their own finances, the University of Michigan Survey of Consumers fell to a gauge of 99 for October. The expected reading was 100.4 per a Thompson Reuters survey, Financial Times reported.
By contrast, September had a slightly higher reading at 100.1. Even so, FT noted that October’s gauge was still above the year’s average. And the survey of current economic conditions fell as well, reaching 111.4, as the consumer expectations index dropped to 89.1.
“Unfortunately, the downward revisions in the rate of growth in household incomes were accompanied by upward revisions in the year-ahead expected inflation rate, weakening real income expectations,” noted Economist Richard Curtin. However,
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