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U.S. Consumer Sentiment Deteriorates Less Than Previously Estimated


Thomson Reuters and the University of Michigan released a report on Friday showing an upward revision to their reading on U.S. consumer sentiment in the month of September, although the index still pointed to a deterioration in sentiment compared the previous month.

The report showed that the final reading on the consumer sentiment index for September came in at 77.5, above the preliminary reading of 76.8 but still below the final August reading of 82.1.

"While few consumers expected a federal shutdown, complaints about government policies have risen, and more importantly, prospects for job growth have diminished," survey director Richard Curtin said, according to Reuters.

The barometer of current economic conditions fell to 92.6 in September from 95.2 in August, while the gauge of consumer expectations tumbled to 67.8 from 73.7.

The report also showed that one-year inflation expectations rose to 3.3 percent from 3.0 percent. The five-to-ten-year inflation outlook also inched up to 3.0 percent from 2.9 percent.

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