Consumer Sentiment Declined Slightly in October

Consumer sentiment ticked slightly lower in October, hovering near record-low levels, according to the end-of-month reading from the University of Michigan’s survey.

The survey’s headline index came in at 48, versus 46.3 in the preliminary October reading and down from 48.1 in September. It is the final reading from the survey before November’s midterm elections, with voter frustration about the economy at the center of many campaigns.