USA: the upturn in consumer sentiment is confirmed

(CercleFinance.com) - U.
S. consumer confidence improved markedly in September, at a faster pace than initially estimated, according to the final results of the University of Michigan's monthly survey published this Friday.

The confidence index finally climbed to 70.1 for the current month, up from 67.9 in August, whereas an initial estimate had put it at 69 just two weeks ago.

Economists were expecting an upward revision, but of lesser magnitude, with the final figure envisaged at around 69.

The sub-index measuring consumers' judgement of their current situation rose to 63.3, from 61.3 last month, while that measuring the evolution of their expectations rose to 74.4 from 72.1 in August.

Joanne Hsu, the report's author, attributes the improvement in consumer sentiment to the slowdown in inflation, although households say they are aware that prices remain high.

As for November's presidential election, a growing share of consumers see Kamala Harris winning, although two-thirds of Republican supporters still hope for a Trump victory.

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