Economy

Surveys of Consumers: Consumer Sentiment Flat in September

Shoppers at Third Street Promenade outdoor shopping mall on August 17, 2012 in Santa Monica, California. (Photo: Reuters)

The Survey of Consumers, a closely-watched gauge of consumer sentiment from the University of Michigan, was flat at 89.8 in September. That’s unchanged from the final reading in the prior month of August and below the median forecast anticipating a an increase to 90.8.

“Confidence was unchanged in early September from the August final and barely different from the July reading,” Surveys of Consumers chief economist, Richard Curtin said. “Small and offsetting changes have taken place in the third quarter 2016 surveys: modest gains in the outlook for the national economy have been offset by small declines in income prospects as well as buying plans.”

Preliminary Consumer Sentiment Results for September 2016

	Sep	Aug	Sep	M-M	Y-Y
	2016	2016	2015	Change	Change
Index of Consumer Sentiment	89.8	89.8	87.2	+0.0%	+3.0%
Current Economic Conditions	103.5	107.0	101.2	-3.3%	+2.3%
Index of Consumer Expectations	81.1	78.7	78.2	+3.0%	+3.7%

Next data release: September 30, 2016 for Final September data at 10am ET

“While income gains expected during the year ahead have edged upward, declines in inflation expectations were the main reasons future financial prospects improved, as both near and long term inflation expectations fell to near record low,” Mr. Curtain said.

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PPD Business Staff

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