In October, Michigan's Consumer Sentiment Index rose to 70.5, reaching its highest since April, due to lower interest rates.

In October, the University of Michigan's Consumer Sentiment Index rose to 70.5, its highest since April, reflecting improved optimism about the economy. This increase is attributed to lower interest rates, enhancing purchasing conditions for durable goods. While inflation expectations remained stable at 2.7%, sentiment among Republicans surged due to confidence in former President Trump's potential election, while Democrats' sentiment declined slightly.