The reading marks a decline from September’s final figure of 48.1. According to Surveys of Consumers Director Joanne Hsu, while some expectations for personal finances saw minor shifts, the appetite for durable goods plummeted as borrowing costs and high prices continue to bite. Sentiment among lower-income earners and those with smaller stock portfolios showed the sharpest decline, highlighting a widening gap in economic resilience.

Following the 10 am ET release, spot gold held onto gains, trading at $4,188.36 per ounce—a 1.32% increase. The data also revealed that year-ahead inflation expectations rose to 4.7% from 4.6% in September, while long-run expectations edged up to 3.5%. Both metrics reached their highest levels since May, further distancing themselves from earlier 2024 ranges.