Spain’s credit rating upgraded to ’A+’ by S&P on strong growth
Investing.com - U.S. consumer sentiment slipped by more than anticipated in September, while long-run inflation expectations rose, as households remain wary of the impact of sweeping U.S. import tariffs.
A closely-monitored gauge of consumer sentiment from the University of Michigan came in at 55.4 for the month, down from 58.2 in August. Economists had anticipated that the figure would match last month’s reading.
In the report on Friday, Joanne Hsu, Surveys of Consumers Director at the University of Michigan, said September’s easing in economic views was "particularly strong" among lower and middle income households.
Consumers have continued to fret over "multiple vulnerabilities" in the economy, with risks rising to business conditions, labor markets, and price gains.
One-year inflation expectations held steady at 4.8%, while the long-run measure moved up for the second consecutive month to 3.9%.
Americans are also more concerned about their pocketbooks, Hsu noted. Metrics of current and expected personal finances were both down about 8%.
"Trade policy remains highly salient to consumers, with about 60% of consumers providing unprompted comments about tariffs during interviews, little changed from last month," Hsu said.
Still, sentiment remains above dips in April and May, which came immediately after President Donald Trump unveiled his aggressive "reciprocal" levies on a host of countries.