Consumer sentiment rose for a second consecutive month, according to the latest survey from the University of Michigan.

Americans’ feelings about the economy rose from 67.9 to 69 so far in September — 2% higher than August, according to the university’s preliminary estimate for the month. 

What You Need To Know

  • Consumer sentiment rose for a second consecutive month, according to the latest survey from the University of Michigan

  • Americans’ feelings about the economy rose from 67.9 to 69 so far in September — 2% higher than August

  • Customers felt buying conditions had improved for durable goods, such as vehicles, appliances and furniture, according to the survey

  • Looking ahead one year, consumers’ feelings about their personal finances and the economy as a whole also ticked up

Customers felt buying conditions had improved for durable goods, such as vehicles, appliances and furniture, according to the survey. Looking ahead one year, consumers’ feelings about their personal finances and the economy as a whole also ticked up.

For the fourth straight month, consumers expect inflation will be lower one year from now. They estimate it will be 2.7% at this time in 2025. Longer term, they expect inflation to be about 3.1%, slightly higher than they expected last month.

The current annual inflation rate is 2.5% — the lowest it has been since February 2021.

Consumer sentiment is at its highest level since May 2024 and is currently 40% above its low in June 2022. 

Researchers noted that November’s election is generating uncertainty amongst consumers, with a growing percentage of Republicans and Democrats anticipating Vice President Kamala Harris will win. 

Conducted before Tuesday’s debate between Harris and former President Donald Trump, the survey showed a widening gap between Republicans’ and Democrats’ views of the economy.