The University of Michigan’s preliminary September consumer sentiment index reading was 73.1, compared to the final August 63.0 reading, 61.7 in mid-August, and July’s 61.2 reading, according to market sources.
Economists polled by IFR Markets had predicted a 64.0 reading for the index.
The expectations index was 70.9, compared to 57.9 last month, 56.8 in mid-August, and 53.5 in July.
The current conditions index was 76.5 compared to 71.0 last month, 69.3 earlier in August, and 73.1 in July.
The five-year inflation expectation index was 2.9% in September, compared to 3.2% in August, and 3.2% in July, while the one-year inflation expectation index was 3.6% in September, compared 4.8% in August, and 5.1% in July.
The University of Michigan index is not released to the press, but only to paying subscribers.