Tuesday, 02 January 2024 12:17 GMT

U.S. Consumer Sentiment Drops in September


(MENAFN) The University of Michigan's gauge of consumer sentiment in the United States was adjusted downward by 3.1 points, settling at 55.1 for the month of September.

According to the institution, the earlier estimate for September stood at 55.4, whereas in August, the index was recorded at 58.2.

The indicator assessing the "current economic conditions" declined by 1.3 points, reaching 60.4 in September.

The "consumer expectations index," which represents individuals' projections for the future, dropped by 4.2 points, landing at 51.7 during the same timeframe.

Meanwhile, people’s short-range views on inflation eased slightly, dipping from 4.8% to 4.7% in September.

On the other hand, long-range inflation expectations increased from 3.5% to 3.7% over the same span.

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