Notizie economiche
13.09.2024

U.S. consumer sentiment index rises more than forecast in early September

A report from the University of Michigan revealed on Friday that the preliminary reading for the Reuters/Michigan index of consumer sentiment rose 1.8 per cent m-o-m to 69.0 in early September. This marked the highest reading in four months.

Economists had forecast the indicator would come in at 68.0 this month, slightly up from the August final reading of 67.9.

According to the report, the index of current economic conditions jumped 2.6 per cent m-o-m to 62.9 in September, while the index of consumer expectations climbed 1.2 per cent m-o-m to 73.0. 

The report also showed that the estimates of year-ahead expected inflation slipped from 2.8 per cent in August to 2.7 per cent early this month, the lowest level since December 2020 (2.5 per cent). Meanwhile, the 5-year expected inflation increased from 3.0 per cent to 3.1 per cent, the highest level since November 2023 (3.2 per cent).

Commenting on the latest findings, Surveys of Consumers Director Joanne Hsu noted that the U.S. consumer sentiment rose to its highest reading since May 2024, driven by an improvement in buying conditions for durables amid more favourable prices as perceived by consumers. “Year-ahead expectations for personal finances and the economy both improved as well, despite a modest weakening in views of labour markets,” she added.

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