Economics
Americans See Worst Buying Conditions in Decades on High Prices
- University of Michigan sentiment gauge at 71; missing forecast
- Buying climate for durables, cars, homes weakest in decades
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U.S. consumer sentiment rose slightly in early September but remained close to a near-decade low, while buying conditions for household durables deteriorated to their worst since 1980 because of high prices.
The University of Michigan’s preliminary sentiment index edged up to 71 from 70.3 in August, data released Friday showed. The figure trailed the median estimate of 72 in a Bloomberg survey of economists.