U.S. consumer sentiment dropped in October to its lowest level since the end of last year as consumers worried Congressional dysfunction and the resulting partial federal government shutdown would hurt growth, a survey released on Friday showed.
The Thomson Reuters/University of Michigan's final reading on the overall index on consumer sentiment fell to 73.2 in October from 77.5 in September and was the lowest final reading since December 2012.
The October figure was lower than both the 75.0 forecast by economists in a Reuters poll and the mid-month preliminary reading of 75.2.
The federal government shut down for 16 days in the first half of October as Congressional Republicans sought to undermine President Barack Obama's signature health care law as a condition of funding the government.
The government also came close to breaching its borrowing limit, which compounded the crisis and could have pushed the country closer to a historic debt default.