US Consumer Sentiment Rose In September, Led By Democrats

Democrats dominated the increase in sentiment for Americans in September, jumping from 57.6 to 68.4...

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Source: Bloomberg

Overall, UMich sentiment surprised to the upside with 'hope' the most notable jump...

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Source: Bloomberg

Buying Conditions for homes unexpectedly dropped (modestly) while cars and appliances picked up...

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Source: Bloomberg

The poorest cohort of Americans did not see a large rise in sentiment but the middle range jumped dramatically...

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Source: Bloomberg

Finally, a new question was added on the anticipated impact on the economy from a universal basic income, which surprisingly tilted in the opposite direction: nearly half of all consumers thought higher taxes on the wealthy would have a favorable impact on growth prospects, and nearly half thought a universal basic income would have a negative impact on the economy.

UMich notes that two non-economic issues still represent the primary sources of uncertainty and could cause volatile shifts in confidence: how and when the election is decided, and delays in obtaining and administering the vaccine.