Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by more than initially estimated in the month of October.
The University of Michigan said its consumer sentiment index was downwardly revised to 53.6 from the preliminary reading of 55.0.
The unexpected downward revision to the headline index partly reflected a downturn by consumers' assessment of current economic conditions.
The report said the current economic conditions index fell to 58.6 in October from 60.4 in September, while the preliminary data showed the index crept up to 61.0.
The index of consumer expectations also decreased to 50.3 In October from 51.7 in September compared to the preliminary estimate of a dip to 51.2.
The University of Michigan said year-ahead inflation expectations ebbed to 4.6 percent in October from 4.7 percent in September, unchanged from the preliminary estimate.
Meanwhile, long-run inflation expectations rose to 3.9 percent in October from 3.7 percent in September. The preliminary estimate showed long-run inflation expectations held steady.