US consumer sntiment

Consumer sentiment in the U.S. unexpectedly weakened in September, with the Conference Board’s index slipping to 53.1 from a revised reading of 54.5 in August, and households may turn increasingly pessimistic towards the economy over the coming months as they continue to face a weakening labor market paired with tightening credit conditions. The breakdown of the report showed households held a weakened outlook for employment, with the index measuring present conditions slipping to 227 from 25.4 in the previous month, while the gauge for future expectations fell back to 73.3 from 73.8. The data reinforces a feeble outlook for personal spending as households ramp up their temperament to save, and the slump in domestic demands may raise the risks for a protracted recovery as private-sector consumption accounts for more than two-thirds of the economy.