US: UoM Consumer Sentiment Index jumps to 100.8 in September from 96.2

Eren Sengezer FXStreet

"Consumer sentiment posted a robust rise in early September, reaching 100.8, the second highest level since 2004-only behind the March 2018 reading of 101.4," the University of Michigan reported on Friday.

Key quotes

The gains were widespread across all major socioeconomic subgroups.
The Expectations Index reached its highest level since July 2004, largely due to more favorable prospects for jobs and incomes.
Despite a lessening of expected gains in nominal incomes in September, inflation expectations also declined, acting to offset concerns about declining living standards.
The largest problem cited on the economic horizon involved the anticipated negative impact from tariffs.
Concerns about the negative impact of tariffs on the domestic economy were spontaneously mentioned by nearly one-third of all consumers in the past three months, up from one-in-five in the prior four months.

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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