Economic Buzz: US Consumer Sentiment Improves Slightly In September

3 Oct 2022 , 08:21 AM

Consumer sentiment in the U.S. improved by less than initially estimated in the month of September, according to revised data released by the University of Michigan. The consumer sentiment index for September was downwardly revised to 58.6 from the preliminary estimate of 59.5. Despite the downward revision, the consumer sentiment index was still slightly higher than the final August reading of 58.2. The report showed the current economic conditions index rose to 59.7 in September from 58.6 in August, while the index of consumer expectations was unchanged at 58.0. On the inflation front, the University of Michigan said one-year inflation expectations edged down to 4.7 percent in September from 4.8 percent in August, hitting the lowest level since last September. Five-year inflation expectations also dipped to 2.7 percent in September from 2.9 percent in August, falling below the 2.9-3.1 percent range for the first time since July 2021.Powered by Commodity Insights