US Household Confidence Grows In September

The University of Michigan Consumer Sentiment Index (MCSI), which measures household confidence in the US economy, was estimated to rise to 92 points in September from 89.8 points in August.

Analysts interviewed by Reuters expected a less strong growth indicator — only to 90.9 points.

In addition, the index of current economic conditions in the United States in September, according to preliminary estimates, increased to 106.9 points from the previous month’s level of 105.3 points, the index of economic expectations — up to 82.4 from 79.9 points a month earlier. 

Experts believed that the indicators would be 107 points and 82 points, respectively.

The University of Michigan Consumer Sentiment Index is compiled from a monthly survey of at least 500 US households on 50 key issues aimed at identifying changes in consumer expectations regarding the economic climate, personal income, and consumption.

The indicator is published twice a month in the form of an initial and final assessment and affects the dynamics of the dollar, stock markets and US government bonds.

 

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