United States Consumer Confidence
Sep 30, 2023
Sep 29, 2023
Time to Release
11 Days 23 Hours
|85.56 Points||1952-2023||University of Michigan|
The Index of Consumer Expectations focuses on three areas: how consumers view prospects for their own financial situation, how they view prospects for the general economy over the near term, and their view of prospects for the economy over the long term. Each monthly survey contains approximately 50 core questions, each of which tracks a different aspect of consumer attitudes and expectations. The samples for the Surveys of Consumers are statistically designed to be representative of all American households, excluding those in Alaska and Hawaii. Each month, a minimum of 500 interviews are conducted by telephone.
The University of Michigan consumer sentiment for the US fell to 67.7 in September of 2023 from 69.5 in the previous month, retreating further from the near-two-year high of 71.6 in July and missing market estimates of 69.1. The figure aligns with slowing optimism among other forward-looking indicators, consistent with the Federal Reserve's aggressive tightening campaign and challenging robust growth and light labor market data from earlier in the third quarter. The gauge for current economic conditions fell sharply to 69.8 from 75.7 in the previous month, as soaring prices for food and fuel hurt consumers' purchasing power and eroded living standards. However, consumers’ future expectations advanced to 66.3 from 65.5, supported by consumers' expectations that elevated inflationary pressures are set to subside. Year-ahead inflation expectations fell to 3.1% from 3.5% in the earlier month, the lowest since March 2021.
United States Consumer Confidence History
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