U.S. consumer sentiment slips again but
inflation outlook improves
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[September 16, 2023]
(Reuters) - U.S. consumer sentiment edged lower for a second
straight month in September but their economic outlook brightened
modestly as household expectations for near-term inflation fell to the
lowest in more than a year, a survey released on Friday showed. |
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A docked cargo ship is loaded with shipping containers at Port
Elizabeth, New Jersey, U.S., July 12, 2023. REUTERS/Mike Segar/File
Photo |
The
University of Michigan's preliminary reading of its Consumer
Sentiment Index dropped to 67.7 this month from a final reading
of 69.5 in August. That was below the median forecast of 69.1
among economists polled by Reuters.
The survey's barometer of current economic conditions fell, but
its gauge of consumer expectations edged higher.
"Both short-run and long-run expectations for economic
conditions improved modestly this month, though on net consumers
remain relatively tentative about the trajectory of the
economy," survey director Joanne Hsu said in a statement.
The survey's one-year inflation expectation fell to 3.1% - the
lowest since March 2021 - from 3.5%, while the five-year
inflation outlook slid to a one-year low of 2.7% from 3.0%.
(Reporting By Dan Burns; Editing by Chizu Nomiyama)
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