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U.S. consumer sentiment remained near a historically weak level this month amid persistent inflation worries, according to the University of Michigan.
September’s final Consumer Sentiment Index registered 48.1, the university said on Sept. 25.
This is a slight uptick from the mid-month preliminary reading of 47.8 but still marks the second-weakest point since the series began in the 1950s.
The headline index is now down 15 percent from January. Additionally, views of current and future personal finances weakened about 10 percent this month amid persistent concerns about high prices.
Buying conditions for durable goods ticked up, but largely because consumers believe purchasing now “would help consumers avoid higher prices in the future,” says Joanne Hsu, director of consumer surveys at the University of Michigan….
September’s final Consumer Sentiment Index registered 48.1, the university said on Sept. 25.
This is a slight uptick from the mid-month preliminary reading of 47.8 but still marks the second-weakest point since the series began in the 1950s.
The headline index is now down 15 percent from January. Additionally, views of current and future personal finances weakened about 10 percent this month amid persistent concerns about high prices.
Buying conditions for durable goods ticked up, but largely because consumers believe purchasing now “would help consumers avoid higher prices in the future,” says Joanne Hsu, director of consumer surveys at the University of Michigan….
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