Saturday, October 16, 2021

US consumer sentiment stable in September after August dip: Umicho

US consumer sentiment held steady in early September after falling to its lowest level in nearly a decade a month ago, but consumers have a bleak outlook on the outlook amid a tight bout of inflation, a survey showed on Friday. .

The University of Michigan said its consumer sentiment rose from 70.3 in August to 71 in the first half of September — the lowest since December 2011. Economists surveyed by Reuters had estimated a reading of 72.

The assessment of current conditions slipped further to 77.1 from 78.5 in August, while the survey’s forward-looking expectations index ticked up from 65.1 to 67.1, the lowest since 2013.

Richard Curtin, director of the survey, said in a statement, “August decline in consumer sentiment ended in early September, but the small gains still mean consumers have less than expected favorable economic prospects in more than a decade.” have hope.”

Read Also:  Menlo Park hopes to electrify all gas-fired buildings by 2030 through a bold climate plan

Consumer views about inflation remain high, although they appear to have stopped charging more as they did in the summer when key official gauges of price increases hit their highest levels in years .

The survey’s one-year inflation outlook ticked up to 4.7 percent this month to match the July reading, the highest since 2008, up from 4.6 percent in August. Meanwhile, the five-year outlook remained stable at 2.9 per cent.

Follow

.

This News Originally From – The Epoch Times

Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
Latest news
Related news
- Advertisement -