U.S. Consumer Sentiment Dipped in September as Uncertainty Weighs — University of Michigan

By Ed Frankl

Sentiment among U.S. consumers weakened slightly in September, amid greater uncertainty about the direction of the economy.

The final reading of the consumer sentiment index dipped to 68.1 in September from 69.5 in August, according to data from a survey carried out by the University of Michigan released Friday.

Economists polled by The Wall Street Journal expected the indicator to be at 67.7, the same as preliminary estimates made in mid-September.

"Consumers are understandably unsure about the trajectory of the economy given multiple sources of uncertainty, for example over the possible shutdown of the federal government and labor disputes in the auto industry," survey director Joanne Hsu said.

Readings of consumers' current economic conditions dipped on the month, but the survey's index of consumer expectations rose slightly in September.

Meanwhile, inflation expectations for the next five years--a closely watched indicator for Federal Reserve officials--declined to 2.8% in September, from 3.0% in August, the survey said.

Write to Ed Frankl at edward.frankl@wsj.com

(END) Dow Jones Newswires

September 29, 2023 10:35 ET (14:35 GMT)

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