News Summary

• Consumer sentiment fell to 46.3 in October, down 1.8 points from September's reading of 48.1.
• Pressured household finances have appeared in the crop of third quarter earnings reports from packaged food companies.
• "We don't expect the consumer to suddenly become in a much better place in the next 12 to 18 months," PepsiCo CEO Ramon Laguarta said on the company's earnings call.
• With the cost of living remaining high, households are taking on more debt to get by.