Consumer sentiment index improves
The University of Michigan’s final consumer sentiment index for September rose to 87.2 in September, beating the reading of 85.7 earlier in the month.
It also came in higher than market prediction, which according to analysts surveyed by The Wall Street Journal was 86.2.
The result, reported Friday, indicates a modest improvement in U.S. consumer confidence. While the September Sentiment Index was at the lowest level in eleven months, it was still higher than in any prior month since May 2007, the survey noted.
Richard Curtin, chief economist for the survey, said: “The decline in optimism continued to narrow in late September as consumers increasingly concluded that the stock market declines had more to do with international conditions than the domestic economy.”
He added: “Overall, the data continue to indicate that consumer spending will continue to expand in late 2015 and 2016, with an average gain in personal consumption expenditures of about 2.9 percent.”
The index had been 91.9 in August, and was 84.6 in September of 2014.
WBJ Web Partners
Most Recent
Most Recent
0 Comments