September Consumer Sentiment Holds Gains, but Lower Than Expected

By Jon C. Ogg Published Sep 28, 10:08AM EDT

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The Reuters/University of Michigan Consumer Sentiment reading is out for September, but we would note that this is the final number for the month after the preliminary reading out two weeks ago. The final September reading came in at 78.3. Bloomberg listed the consensus estimate as being 79.0 after a preliminary reading of 79.2. Bloomberg also listed the range as being 75.0 to 81.5, so in the games of throwing horseshoes (or hand grenades) this would be considered “close enough.”

The current index was listed as 85.7, but the more important outlook index was down at 73.5. This signals more caution from consumers and an outlook that may be worried more and more about the election or the coming fiscal cliff.

The prior full month’s was 74.3 in August. The University of Michigan’s Consumer Survey Center asks questions to 500 households each month on their financial conditions and attitudes about the economy.

JON C. OGG

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.