WASHINGTON (10/28/13)--The final October measure of a consumer sentiment index fell to a 10 month-low in the wake of the government shutdown in Washington.
The last reading of the University of Michigan/Thomson Reuters consumer-sentiment index this month was 73.5, according to data released Friday--down from a final September reading of 77.5.
A report issued by the two research institution on their findings concluded that consumers increasingly view the government as an impediment to economic growth. In response to an open-ended question about recent economic developments, the number of those polled who negatively mentioned the federal government in October was the highest that it has been in the more than five decade history of the survey.
The deconstructed index showed that the measure of consumer expectations fell to 62.5 in October, down from 67.8 in September, while the gauge of current-conditions dropped to 89.9 from 92.6.
Economists polled by MarketWatch expected the final October index to be 74.8 (MarketWatch, Oct. 25).