U.S. consumer sentiment hits five-month low

The University of Michigan’s preliminary October consumer sentiment index edged down to 55.0 from 55.1 in September, marking a five-month low and the third straight monthly decline, the survey reported Friday. Despite a slight dip in the share of households expecting higher unemployment (48% vs. 53% in September), respondents remain worried about inflation and job prospects, while separate data show Bank of America card spending rose 2% year over year in September. The release offers rare fresh insight as the Labor Department’s jobs report remains delayed by the federal government shutdown.