US Consumer Sentiment Increases in September
U.S. consumer sentiment improved in September, with the University of Michigan's index rising to 69.0 amid declining inflation expectations. Despite this increase, many Americans remain cautious about the economy ahead of the upcoming presidential election.
| Score | Value |
|---|---|
Scale | 6 |
Novelty | 4 |
Positivity | 5 |
Reliability | 8 |
Actionability | 3 |
Society | 7 |
Journalism | 3 |
Highlights
- The University of Michigan's consumer sentiment index rose to 69.0 in September, up from 67.9 in August.
- One-year inflation expectations fell to 2.7%, the lowest since December 2020.
- The survey indicated a growing share of both Republicans and Democrats anticipate a win for Kamala Harris in the upcoming election.
- The economy expanded at an annual rate of 3% in the April-June quarter.
- Retail spending increased in July, despite concerns over rising credit card debt among consumers.
Perspectives
- Despite positive indicators, many voters express pessimism about the economy, which could impact Vice President Kamala Harris's chances in the election, as economic performance is a key issue for voters. [1][6][10]
- There is a notable increase in optimism among Democrats regarding both the economy and the likelihood of a Harris victory, reflecting a shift in sentiment compared to earlier perceptions of the election. [4][5][9]