U.S. consumer sentiment held steady in October, though Americans' concerns about the labor market and inflation persisted as the government shutdown began.

The University of Michigan's preliminary consumer sentiment survey for October was little changed from last month, coming in at 55 as economists polled by LSEG estimated a more significant decline to 54.2, after the index had a 55.1 reading for September.

Michigan's Surveys of Consumers said that "pocketbook issues like high prices and weakening job prospects remain at the forefront of consumers' minds," adding that interviews with respondents showed little evidence the shutdown "has moved consumers' views of the economy thus far."

The survey's measure of consumer expectations for inflation over the next year fell to a stil

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