US Consumer Sentiment Drops to Four-Month Low
US consumer sentiment slipped to a four-month low in September as rising inflation worries eroded household purchasing power. The University of Michigan index fell to 48.1 while one-year inflation expectations rose.
United States consumer sentiment fell to a four-month low of 48.1 in September, down from 51.7 in August on persistent inflation worries. The final reading beat the preliminary estimate of 47.8 and topped the 47.6 forecast by economists. This drop leaves the index down 15% since January, reflecting broad economic pessimism.
