Consumer Sentiment Falls 7.5% to Lowest Level Since May in Preliminary September Reading

Second straight monthly decline leaves the index 13% below a year ago as fuel prices and trade tensions weigh on household budgets.

Consumer sentiment fell 7.5% in September in the preliminary reading from the University of Michigan Surveys of Consumers, with the Index of Consumer Sentiment at 47.8, down from 51.7 in August and 13.2% below the 55.1 recorded in September 2025. It is the lowest reading since May and the second consecutive monthly decline.

Consumer sentiment is considered a leading indicator of economic activity, and the gauge bears on whether households keep driving, absorb higher insurance premiums and authorize