Consumer sentiment falls to lowest level in nearly a year
WASHINGTON (AP) — The University of Michigan says consumers lost confidence for the third straight month in September, worried about bad news about the global economy.
The university's consumer sentiment index fell to 87.2 this month, lowest since October 2014 and down from 91.9 in August.
Richard Curtin, chief economist for the survey, said consumers are worried about signs of weakness in the Chinese economy and continued stresses on Europe's economies.
"Consumers now believe that that global economic trends can directly influence their own job and wage prospects," he said.
Still, the Michigan index is up from 84.6 a year ago. The government reported Friday that the U.S. economy grew at a robust 3.9 percent annual pace from April through June.