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CNN
CNN
29 Sep 2023


NextImg:Government shutdown, labor strikes will likely weigh on US consumers' attitudes | CNN Business

Washington, DC CNN  — 

Americans are taking notice of a possible government shutdown and the uncertainty of ongoing labor strikes, according to the University of Michigan’s latest consumer sentiment survey.

The university’s Consumer Sentiment Index edged lower by 1.4 index points in September, according to a final reading. That means US consumers didn’t feel much gloomier this month, but that could change in October.

“Consumers are understandably unsure about the trajectory of the economy given multiple sources of uncertainty, for example over the possible shutdown of the federal government and labor disputes in the auto industry,” said the university’s Surveys of Consumers Director Joanne Hsu in a release.

Meanwhile, Americans’ expectation of inflation rates in the year ahead moderated to a 3.2% rate this month, down from 3.5% in the prior month.

This story is developing and will be updated.