More good news: A nice bounce in consumer sentiment in September, according to the University of Michigan Survey of Consumers.
People are noticing lower prices and cooling inflation:
1-year Inflation expectations are down to the lowest since 2020. pic.twitter.com/u8KupQHMRu— Heather Long (@byHeatherLong) September 13, 2024
1. Highest consumer sentiment since May
2. Lowest 1-yr inflation expectations since Dec 2020
3. Lowest retail gasoline prices since February
4. S&P 500 ~1% from all-time highs
5. 30-yr mortgage rates lowest since Feb 2023
6. US household net worth (Q2) all-time high 🇺🇸 pic.twitter.com/rfSsGG76PA
— Carl Quintanilla (@carlquintanilla) September 13, 2024
The University of Michigan Consumer Study released Friday morning showed Consumer Sentiment rose to 69 in September from 67.9 in August. It is also up from 67.8 in September 2023. It is now at its highest reading since May and increased for the second consecutive month.
The gain was led by an improvement in buying conditions for durables, driven by more favorable prices as perceived by consumers. Year-ahead expectations for personal finances and the economy both improved as well, despite a modest weakening in views of labor markets.
Sentiment is now about 40% above its June 2022 low.
www.ibtimes.com/consumer-sentiment-study-september-2024-3743196