University of Michigan survey shows consumer sentiment improved compared to August but down substantially compared to last year.
The steep August falloff in consumer sentiment ended in early September, but the small gain still meant that consumers expected the least favorable economic prospects in more than a decade.
The Index of Consumer Sentiment stood at 71.0, up 1% from 70.3 in August, but down 11.7% from 80.4 in September 2020.
According to Richard Curtin. Surveys of Consumers chief economist, just two components posted additional declines: buying attitudes for household durables fell again in early September to a low reached only