A measure of consumer sentiment fell this month to the lowest level in a year, suggesting Americans are becoming increasingly concerned about the path of the U.S. economy.
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The University of Michigan said Friday its preliminary reading of consumer sentiment fell to 87.9 this month from September's final reading of 91.2. Economists surveyed by The Wall Street Journal expected confidence to rise to a reading of 91.8.
This month's reading marked the lowest level of sentiment since September 2015 and the second lowest in two years. The index fell because of a sharp drop in consumers' expectations of the economy in coming months. A measure of consumers' view of the current state of the economy rose slightly.
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