Preliminary data released by the University of Michigan on Friday showed consumer sentiment in the U.S. has deteriorated by much more than anticipated in the month of September.
The University of Michigan said its consumer sentiment index fell to 55.4 in September from 58.2 in August. Economists had expected the index to edge down to 58.0.
The bigger than expected decrease by the headline index partly reflected a notable deterioration in consumer expectations, with the index of consumer expectations sliding to 51.8 in September from 55.9 in August.
The current economic conditions index showed a more modest decrease, slipping to 61.2 in September from 61.7 in August.
On the inflation front, year-ahead inflation expectations held steady at 4.8 percent, while long-run inflation expectations rose for the second straight month, jumping to 3.9 percent in September from 3.5 percent in August.