Consumer sentiment dipped slightly in September, indicating Americans are tentative about the direction of the economy, according to the latest survey-based index from the University of Michigan.
The overall consumer sentiment index, released on Friday, retreated to 67.7 from 69.5 in August, while the current conditions assessment dropped to 69.8 from 75.7 and the forward-looking expectations index increased to 66.3 from 65.5.
“Sentiment this month was characterized by divergent movements across index components and across demographic groups with little net change from last month.
There was improvement in how consumers see inflation going forward.
That means workers are keeping just ahead of inflation, although prices for necessities such as groceries and gasoline have increased.
Persons:
”, Joanne Hsu, “, ” Hsu, ” Bernard Baumohl, Baumohl, “ They’re, Joe Biden, – Ford, Peter Berezin
Organizations:
University of Michigan, Consumers, San Francisco Federal Reserve Bank, Economic Outlook, Supreme, United Auto Workers, General Motors, Senate, Fed, BCA Research, Global
Locations:
Saudi Arabia, Russia, U.S