9/30, 4:03 PM (Source: TeleTrader)
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US consumer confidence rises modestly in September

The Consumer Sentiment Index in the United States came in at 58.6 points in September, rising 0.7% month on month, a report published by the University of Michigan on Friday indicated. However, the index showed a decrease of 19.5% annually.

The Current Economic Conditions Index went up 1.9% to 59.7 in the same month compared to the month prior but plummeted 25.5% year over year. Meanwhile, the Index of Consumer Expectations was unchanged monthly and tumbled 14.8% compared to September 2021.

"Inflation expectations are likely to remain relatively unstable in the months ahead, as consumer uncertainty over these expectations remained high and is unlikely to wane in the face of continued global pressures on inflation," Surveys of Consumers Director Joanne Hsu commented.

Baha Breaking News (BBN) / JG