Washington CNN —
Americans’ attitudes toward the economy improved this month thanks to lower interest rates.
The University of Michigan’s latest consumer survey, released Friday, showed that sentiment rose in October for the third consecutive month, reaching its highest level since April. Americans’ expectations for inflation rates in the long run also edged lower this month.
“This month’s increase was primarily due to modest improvements in buying conditions for durables, in part due to easing interest rates,” Joanne Hsu, director of the university’s Surveys of Consumers, said in a release.
The Federal Reserve
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