ABA Banking Journal
Consumer Sentiment fell 1.7 points in September to 95.1, according to the University of Michigan Consumer Sentiment Index. Last month’s figure is 4.3% higher than the September 2016 index.
The Current Economic Conditions Index grew 0.8 point to 111.7 but remained 7.5 points higher than the September 2016 estimate. The Consumer Expectations Index decreased 3.3 points to 84.4 after increasing 7.2 points in August’s estimate.
“Consumer sentiment remained largely unchanged from the slightly lower level recorded at mid-month. The resilience of consumers has again been demonstrated as concerns about the impact of the hurricanes on the national economy have quickly faded,” said Richard Curtin, chief economist of UM Surveys of Consumers. “Given that the survey was able to reach most households in Florida and Texas in late September, it should be no surprise that small declines were recorded in the current financial situation of households. In the past year, there has been a long list of issues that could have derailed the overall level of consumer confidence, including the unprecedented partisan divide, North Korea, Charlottesville, and the hurricanes. Confidence has nonetheless remained very favorable, moving sideward in a very narrow positive range.”
Read the University of Michigan Surveys of Consumers release.
