2:02 PM ยท 27 September 2024

BREAKING: Consumer Sentiment slightly improved; UoM final report ๐Ÿ“Œ

03:00 PM BST, United States - University of Michigan inflation report for September:

  • Michigan 1-Year Inflation Expectations: actual 2.7%; forecast 2.7%; previous 2.7%;
  • Michigan 5-Year Inflation Expectations: actual 3.1%; forecast 3.1%; previous 3.1%;
  • Michigan Current Conditions: actual 63.3; forecast 62.9; previous 62.9;
  • Michigan Consumer Expectations: actual 74.4; forecast 73.0; previous 73.0;
  • Michigan Consumer Sentiment: actual 70.1; forecast 69.0; previous 69.0;

Consumer sentiment saw a solid improvement in September, rising over 3% from August, with gains across all education levels and political affiliations. The expectations index, now 13% higher than a year ago, indicates growing optimism, particularly with a 6% jump in one-year business expectations. While sentiment is still below its historical average due to concerns over high prices, consumers recognize the ongoing slowdown in inflation. The improving outlook is tempered by uncertainty around the upcoming election, with an increasing number of consumers, especially across political parties, expecting a Harris presidency, though a majority of Republicans still foresee a Trump victory.

University of Michigan summary

 

 

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