Consumer Sentiment Up in September

Ann Arbor, MI, September 14, 2007—Consumer sentiment, according to the Reuters/University of Michigan preliminary index, rose to 83.8 this month from 83.4 in August, which was the lowest in a year. The reading compares with an average 88.9 for the year through August.

Economists had forecast the index to reach 83.5.

The expectations index rose to 74.4 in September from 73.7 in August.

A gauge of current conditions declined to 98.3 from 98.4.

Consumers said they expect an inflation rate of 3.1 percent in one year, compared with 3.2 percent in the August survey.

The preliminary Michigan consumer confidence report for the month reflects about 300 responses, compared with about 500 households surveyed for the final survey.