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Consumer sentiment steady in September

Consumer sentiment was steady in early September from August as shifts in outlooks among different income and age groups and regions offset each other, a survey showed on Friday.
/ Source: Reuters

Consumer sentiment was steady in early September from August as shifts in outlooks among different income and age groups and regions offset each other, a survey showed on Friday.

The Reuters/University of Michigan Surveys of Consumers said its preliminary September figure on consumer sentiment was 83.8, slightly above a median forecast of 83.4 and the final August reading of 83.4.

Consumer sentiment has been seen as a proxy for future consumer spending, which accounts for two-thirds of the U.S. economy. This deterioration in consumer mood seemed to be reflected in recent weekly retail sales data.

The survey’s gauge of current consumer conditions was 98.3 in early September, little changed from 98.4 in August.

The figure on consumer expectations for early September was 74.4, slightly above the final August reading of 73.7.