Consumer Sentiment Slips Partly Because of Hurricane Concerns

By Josh Mitchell Features Dow Jones Newswires

Americans' outlook on the economy slipped because of concerns about hurricane damage, though their assessment of present conditions reached the highest since 2000.

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Overall, an index of consumer sentiment slipped to a reading of 95.3 in September from 96.8 in August, the University of Michigan said Friday. The index is comprised of two components -- Americans' assessment of current conditions and their expectation of the economy in months ahead.

Americans' assessment of present conditions reached the highest level since November 2000, rising 2.7% to a reading of 113.9.

But the index of expectations fell 4.9% to 83.4.

"The two hurricanes had a greater impact on expected economic conditions, " said Richard Curtin, chief economist of the survey. "Across all interviews in early September, 9% spontaneously mentioned concerns that Harvey, Irma, or both, would have a negative impact on the overall economy."

Write to Josh Mitchell at joshua.mitchell@wsj.com

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(END) Dow Jones Newswires

September 15, 2017 10:39 ET (14:39 GMT)