Consumer sentiment climbs somewhat in September
Consumer sentiment improved somewhat in September but remains in the doldrums with Americans staying pessimistic about jobs and the overall state of the economy. The Thomson Reuters/University of Michigan consumer sentiment index rose to 59.4 in September, up from 57.8 mid-month and 55.7 in August, which was the lowest reading in three years. "The 1.6 point gain in the month-end to mid-month September comparison implies a 61 reading for the last two weeks of the month," according to Econoday. "Though higher than the shock-infested month of August, this reading, which is barely above 60, is the weakest since the recession period of early 2009." Analysts surveyed by Econoday expected a reading of 57.8 with a range of estimates between 56 and 59. The sentiment index tracks how consumers feel about personal finances. Individuals are still feeling the effects of a struggling economy, as August "proved to be an unusually difficult month for the consumer," according to Econoday. Write to Kerri Panchuk.