Consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of September, according to revised data released by the University of Michigan on Friday.
The University of Michigan said its consumer sentiment index for September was downwardly revised to 55.1 from a preliminary ready of 55.4.
The report said the current economic conditions index fell to 60.4 in September from 61.7 in August, while the index of consumer expectations slid to 51.7 in September from 55.9 in August.
The University of Michigan also said year-ahead inflation expectations receded slightly, edging down to 4.7 percent in September from 4.8 percent in August.
On the other hand, the report said long-run inflation expectations rose to 3.7 percent in September from 3.5 percent in August but remain much lower than the 4.4 percent spike seen in April.