US: Consumer confidence edged downward in early September - UoM

"Consumer confidence edged downward in early September due to concerns over the outlook for the national economy," Richard Curtin, Surveys of Consumers chief economist at the University of Michigan, said on Friday.

Key takeaways:

  • Index of Consumer Sentiment eased to 95.3 from 96.8
  • Current Economic Conditions improved to 113.9 from 110.9
  • Consumers' assessments of current economic conditions improved with the Current Conditions Index reaching the highest level since November of 2000. 
  •  The two hurricanes had a greater impact on expected economic conditions. Across all interviews in early September, 9% spontaneously mentioned concerns that Harvey, Irma, or both, would have a negative impact on the overall economy.
  • Given the widespread devastation in Texas and Florida, it is not surprising to find these very negative initial reactions

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.