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US: Michigan consumer sentiment brightens less than expected | news

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MICHIGAN (dpa-AFX) – US consumer sentiment brightened less than expected in September. The consumer climate surveyed by the University of Michigan rose 0.4 points to 58.6 points compared to the previous month, the university announced Friday after a second round of surveys. On average, economists expected a confirmation of the initial estimate of 59.5 points. The value is still low in historical comparison. In June, consumer sentiment fell to a record low of 50.0 points.

Consumer expectations stagnated in September. However, the assessment of the current situation has improved. Meanwhile, inflation expectations have moderated somewhat. A year from now, consumers expect an annual inflation rate of 4.7 percent. This is the lowest reading since September 2021. In August, consumers expected 4.8 percent.

The University of Michigan indicator is a measure of the purchasing behavior of American consumers. It is based on a telephone survey of around 500 households. The financial and economic situation assessment and the corresponding expectations are questioned./jsl/he

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