Consumers still skittish about economy ahead of election
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The Michigan Consumer Sentiment Index ticked down in October (within the margin of error) after two months of gains. Sentiment is 8% stronger than a year ago, and almost 40% above the trough reached in June 2022.
Why it matters: "While inflation expectations have eased substantially, ... consumers continue to express frustration over high prices," survey director Joanne Hsu said.
Red alert for the Harris campaign: In an ABC News/Ipsos poll out this morning, 59% of U.S. adults say the economy is getting worse — more than twice as many as say it's getting better, 23%.
An orange flag about continuing consumer worries about the cost of living:
- The National Retail Federation's forecast of Halloween spending is down 5% from last year's record-setting level, with greeting cards and costumes likely to take the biggest hit.
Go deeper: How Trump or Harris would drive the deficit higher
