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US consumer sentiment eases to four-month low in September
Reuters • • business
Key Points:
- The University of Michigan's Consumer Sentiment Index dropped to 48.1 in September, marking a four-month low and a 15% decline since January, reflecting growing concerns about inflation's impact on purchasing power.
- Consumers' views on current and expected personal finances weakened by about 10%, with rising worries over high prices continuing to affect sentiment across the political spectrum.
- Inflation expectations for the next year rose to 4.6% from 4.0% in August, while five-year inflation expectations increased slightly to 3.4%, indicating heightened concerns about sustained inflation.
- Both Republican and Democratic consumer sentiment declined significantly since January, with Republicans experiencing a 20% drop and Democrats a 13% drop, highlighting broad pessimism about the economic outlook.
