Reply #54: U.S. consumer sentiment falls sharply in September

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2005-09-30T135110Z_01_N30458164_RTRIDST_0_ECONOMY-CONSUMERS-URGENT.XML

NEW YORK, Sept 30 (Reuters) - U.S. consumer sentiment
worsened in September even more than economists had expected, a
report showed on Friday.

The University of Michigan's index of consumer sentiment
dropped to 76.9 in September, from 89.1 in August, but remained
unchanged from the preliminary reading in early September,
according to sources who saw the subscription-only report.

A Reuters poll projected a reading of 78.0.

The survey's expectations component fell to 63.3 from 76.9
in August, while the index of current conditions dropped to
98.1 from 108.2 in August.

Confidence measures are used as an indicator of consumer
spending, which makes up about two-thirds of overall U.S.
economic activity and is used as a gauge of economic growth.