US consumer sentiment eases to four-month low in September
SPY•SPY•SPY•SPY•The University of Michigan’s Consumer Sentiment Index fell to 48.1 in September from 51.7 in August, while one-year inflation expectations rose to 4.6% from 4.0%.
The final Consumer Sentiment Index reading fell to 48.1 this month, a four-month low, from 51.7 in August. It was above the preliminary reading of 47.8 and economists’ 47.6 forecast. The index is down 15% from January.
Consumers’ views of current and year-ahead personal finances each weakened about 10%, while concerns about high prices continued to climb. One-year inflation expectations increased to 4.6% from 4.0% in August, and five-year expectations edged up to 3.4% from 3.3%.
Survey director Joanne Hsu said interviews showed broad agreement across the political spectrum that the economic outlook had weakened since the beginning of the year. Republican sentiment was 20% below January’s level, while Democrats’ sentiment was down 13%. The survey said 12-month inflation expectations had risen from 3.4% in February, before the US-Israeli war with Iran started.
