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Consumer mood indicates 'a recession ahead' amid stock, housing market 'tumult'

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Consumer sentiment improved slightly in October to 59.9, though Americans perceptions of the economy remained historically negative as a weak stock market and ongoing inflation weighed on their finances.

The numbers:

“With sentiment sitting only 10 index points above the all-time low reached in June, the recent news of a slowdown in consumer spending in the third quarter comes as no surprise,’ wrote the survey’s director, Joanne Hsu, in a Friday note.

 

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