Last Update: 25-Sep-15 10:12 ET
- The University of Michigan Consumer Sentiment Index was revised up to 87.2 in the final September reading from 85.7 in the preliminary report. The index is still down from 91.9 in August. The Briefing.com Consensus expected the Consumer Sentiment Index to be revised up to 87.0.
- The Expectations Index was revised up to 78.2 from 76.4, but it is still down from 83.4 in August. In a similar fashion, the Current Conditions Index was revised up to 101.2 from 100.3, but down from 105.1 in August.
- A downward-trending stock market outweighed the expected benefits from improvements in labor market security and generally declining gasoline prices.
- The positive revision to consumer sentiment is unlikely to have a material impact on consumption trends. Spending relies on income. As long as income continues to grow, spending growth should follow.
- Consumer sentiment has little influence on consumption. As long as payroll levels continue to expand, the resulting income growth should keep consumption gains steady regardless of the monthly ebbs and flows in sentiment.