Politics Weighs on Consumer Sentiment
Ann Arbor, MI, Oct. 11, 2013 -- Consumer sentiment fell in October to a nine-month low, due largely to the government shutdown and the debt ceiling debate.
The Thomson Reuters/University of Michigan preliminary consumer sentiment index of decreased to 75.2 in early October from 77.5 in September.
"Consumer confidence posted a surprisingly small decline in early October despite widespread awareness of the government shutdown," survey director Richard Curtin said in a press release.
"The muted response may be due to consumers giving progressively less credence to the economic scare tactics that have framed the debates over the past few years."