University of Michigan's consumer sentiment index rose to 69 in September due to lower durable goods prices and expected interest rate cuts.
In September, the University of Michigan's consumer sentiment index rose to 69, its highest since May, reflecting improved consumer confidence due to lower prices for durable goods and expected interest rate cuts by the Federal Reserve. This marks the second consecutive monthly increase and a 40% rise from June 2022's low. However, sentiment remains below pre-pandemic levels, with consumers cautious ahead of the upcoming presidential election.
September 13, 2024
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