US Sept prelim UMich consumer sentiment 67.7 vs 69.1 expected- Prior was 69.5
- Current conditions 69.8 vs 75.3 expected (75.7 prior)
- Expectations 66.3 vs 66.0 expected (65.5 prior)
- 1-year inflation 3.1% vs 3.5% prior
- 5-10 year 2.7% vs 3.0% prior
This survey is tied to gasoline prices so I'm not surprised the headline missed. I'm not sure why economists get that wrong so often.
Meanwhile, the drop in inflation expectations is good news. The Fed got burned last year by following this metric too closely but there is a clear trend here.
This article was written by Adam Button at www.forexlive.com.
Source: US Sept prelim UMich consumer sentiment 67.7 vs 69.1 expected (https://www.forexlive.com/news/us-sept-prelim-umich-consumer-sentiment-677-vs-691-expected-20230915/)
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