US: UoM Consumer Sentiment Index improves to 92 in September vs. 90.9 expected

Consumer sentiment in the US rebounds in September.
US Dollar Index continues to erase its daily losses on the upbeat reading.

Eren Sengezer FXStreet

According to the University of Michigan's Surveys of Consumers' preliminary results, consumer confidence improved in September with the Index of Consumer Sentiment rising to 92 from 89.8 in August, compared to analysts' estimate of 90.9.

Commenting on the data, "While the uptick was across both current and expected economic conditions, the early September rebound was not widespread across age or income subgroups as it only fell among consumers under age 45 and among households with incomes in the top third---these two groups account for about half of all spending," said Surveys of Consumers chief economist, Richard Curtin.

The US Dollar Index extended its recovery on the upbeat data and was last down 0.1% on the day at 98.26.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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