US consumer confidence declines in October

Consumer sentiment in the US declined in October, official figures released on Friday showed.

According to the latest University of Michigan reading, the index monitoring consumer sentiment slid to 90.0 from 92.1 in September, falling short of the 92.5 reading analyst had expected.

"On the prices side of the survey, year-ahead inflation expectations were unchanged at 2.7%, while longer-term expectations fell one-tenth, to a 13-year low of 2.5%," said analysts at Barclays.

"On balance, we do not find the late-month dip in sentiment a concern and expect the recent strength in household consumption to prove durable."