US Economy: US consumer sentiment unexpectedly worsened significantly in September

US consumer sentiment unexpectedly worsened significantly in September

Consumer sentiment fell for the second straight time due to rising inflation. The barometer fell to 103 points from the revised 108.7 points in August.

Posted: September 26, 2023, 4:44 pm

Consumers are worried about rising food and petrol prices.

Image: Al Drago/Bloomberg

Consumer sentiment in the US deteriorated surprisingly sharply in September based on recent inflation. A barometer of consumer sentiment fell to 103.0 points from a revised 108.7 in August, the Conference Board reported in its survey on Tuesday. This is the second decline in a row. Economists polled by Reuters had only expected a decline of up to 105.5 points. “Consumers are concerned about rising food and gasoline prices in general, and in particular,” said Conference Board Chief Economist Dana Peterson. The political climate and increased interest rates were also cited as disruptive factors.

Herman Webb

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