Consumer confidence in the US saw a slight improvement in early September, as the University of Michigan’s Consumer Sentiment Index rose to 69 from 67.9 in August. This exceeded market expectations of 68, indicating a positive outlook among American consumers.
The Current Conditions Index also showed an increase, rising to 62.9 from 61.3, while the Consumer Expectations Index improved to 73 from 72.1. These numbers reflect growing optimism about the future among US consumers.
Despite the overall positive trend, the survey revealed a decrease in the one-year inflation expectation, dropping to 2.7% from 2.8%. However, the five-year inflation outlook rose slightly to 3.1% from 3%, indicating a longer-term perspective on inflation.
Market Analysis
While these data did not have a significant impact on the market, the US Dollar Index was down 0.3% at 100.94 at the time of publication. This minor movement suggests that investors are cautiously optimistic about the economic outlook, taking into account both consumer sentiment and inflation expectations.