US Consumer Confidence Drops in September

The University of Michigan says consumers lost confidence for the third straight month in September, worried about bad news about the global economy.

The university’s consumer sentiment index fell to 87.2 this month, lowest since October 2014 and down from 91.9 in August.

Richard Curtin, chief economist for the survey, said consumers are worried about signs of weakness in the Chinese economy and continued stresses on Europe’s economies.

“Consumers now believe that that global economic trends can directly influence their own job and wage prospects,” he said.

Still, the Michigan index is up from 84.6 a year ago. The government reported Friday that the U.S. economy grew at a robust 3.9 percent annual pace from April through June.


Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza