Here is a breakdown of the key findings from the final Sept UMich survey. Overall consumer sentiment saw a decline compared to the initial estimates. Interestingly, while the outlook for future expectations showed improvement, the measure of current conditions dropped to the second-lowest point on record. On the pricing front, 1-yr inflation expectations crept up to 4.7%. Although this shift will probably not cause a Fed rate hike next week, it certainly locks in the odds for an increase in December. Please take a look at the Bloomberg charts provided below for a visual summary.

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