Michigan Consumer Sentiment revised lower

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The University of Michigan's consumer sentiment for the US was revised lower to 58.6 in September from a preliminary of 59.5, still above 58.2 in July, final estimates showed. Expectations were revised sharply lower (58 vs 59.9 in the preliminary estimate) while current conditions rose slighlty (59.7 vs 58.9). Buying conditions for durables and the one-year economic outlook continued lifting from the extremely low readings earlier in the summer, but these gains were largely offset by modest declines in the long run outlook for business conditions.

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