26 October 2001, 18:10  U. Michigan -2: Sentiment Up Despite Attacks And War

NEW YORK (Dow Jones)--Consumer sentiment edged higher in October, indicating that the ill effects on consumers of the Sept. 11 terrorist attacks in the U.S. may not be as extensive as some had thought. The University of Michigan's consumer sentiment index was said to have risen to 82.7 in October from 81.8 in September. However, it was a little lower than the group's October mid-month reading of 83.4. The survey's October reading on current economic conditions fell marginally in October to 94 from 94.6 in September. The mid-October reading had been 92.1. The index of consumers' expectations for future economic activity also rose to 75.5 in October from 73.5 in September. That index had been at 77.9 in mid-October. The report is being particularly closely watched because it ranks among initial indications of how consumer sentiment has held up in the month following the Sept. 11 terrorist attacks on New York and Washington. It is also one of the first reports to potentially reflect sentiment about the U.S.-led military response. The report is released only to subscribers.

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