\n Americans\u2019 outlooks on the economy remain down in the dumps this month, new data released Friday showed.\n <\/p>\n
\n The University of Michigan\u2019s preliminary read on consumer sentiment for October showed its closely watched index falling to 46.3 from 48.1 last month.\n <\/p>\n
\n Consumers are wrangling with a high cost-of-living environment where inflation continues to run above normal and gas prices have soared higher in recent months as a result of the war in Iran. In September, borrowing got even more expensive when the Federal Reserve raised interest rates for the first time in three years.\n <\/p>\n
\n If Friday\u2019s lower-than-expected reading were to hold when the final data is released later this month, it would be the second-lowest level on record<\/a>.\n <\/p>\n \n The survey dates back to 1952, meaning Americans are feeling worse now than they did during the 1970s oil crisis, 9\/11, the Great Recession, the Covid-19 pandemic and the inflation surge afterward.\n <\/p>\n