USA: Small increase in consumer confidence in Michigan

( – US consumer confidence improved significantly in September, but at a slower pace than previously estimated, the final results of the University of Michigan’s monthly survey showed on Friday.

Its confidence index finally stands at 58.6, a level well below the first estimate (59.5), but still higher than the level of 58.2 which was reached in August.

The component of the judgment of households surveyed on the current situation improved to 59.7, against 58.6 last month, but the component of their expectations remained stable at 58.

Joanne Hsu, the author of the survey, highlights the continuous decline in the confidence index over the past six months, a phenomenon which she attributes to the impact of the recent rise in inflation, which now affects even the most privileged homes, she says.

However, household inflation expectations one year ahead fell to 4.7% in September, their lowest level in a year.

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