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U.S. consumer sentiment falls drastically to September 2014

Staff writer |
U.S. consumer sentiment for early September fell to the lowest level in a year, affected by lower expectation of domestic economy, the Thomson Reuters/University of Michigan index of consumer sentiment showed.

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The preliminary reading of the consumer sentiment for September went down from 91.9 in August to 85.7 at present, the lowest level since September 2014.

"Consumers (who) still anticipate a weaker domestic economy due to the global slowdown are less optimistic about future growth in jobs and wages than they were a few months ago," said survey director Richard Curtin.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, fell to 100.3 from 105.1 last month.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, decreased to 76.4 from 83.4 in August.

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