US Consumer Confidence Remains Fragile! University of Michigan Index in Focus During Government Shutdown

　　Although official data was unavailable during the US government shutdown, routine economic data from institutions showed that US consumer confidence declined in October, hitting a five-month low. This is attributed to ongoing American concerns about the stagnant job market and persistently high inflation.

　　The preliminary October consumer sentiment index released by the University of Michigan on Friday (October 10th) showed the index fell 0.1% month-on-month, dropping from 69.1 in September to 69.0. Although the decline was small, it marked the third consecutive monthly decrease in the index, drawing close attention from investors.

　　Furthermore, Americans remain worried about persistently high prices, with inflation expectations for the coming year remaining elevated.

　　In a statement, Joanne Hsu, Director of the University of Michigan's Consumer Surveys, said that the deteriorating employment outlook remains a top concern for Americans, "At present, consumers do not expect substantial improvements in these areas in the short term."

　　Hsu also noted that the US government shutdown, for now, does not appear to have impacted consumer views on the economy.

　　Beyond this University of Michigan consumer sentiment index, other data also suggests ongoing economic concerns among the public.

　　According to a recent CBS News poll, the percentage of people who believe the economic situation is worsening rose to 59% in October, compared to 54% in July.