World Economy

US Consumer Sentiment Rebounds

US Consumer Sentiment ReboundsUS Consumer Sentiment Rebounds

US consumer sentiment rebounded strongly in early October, suggesting that the economic recovery remained on track despite headwinds from a strong dollar and weak global demand that have weighed on the industrial sector, particularly manufacturing, CNBC reported. The University of Michigan said its consumer sentiment index rose to 92.1 in early October from a reading of 87.2 September. The survey’s current conditions sub-index shot up to 106.7 this month from 101.2 in September. In a separate report, the Federal Reserve said industrial output slipped 0.2% on renewed weakness in oil and gas drilling after dipping 0.1% in August. Industrial production rose at an annual rate of 1.8% in the third quarter.