Uni Michigan Index slides below expectations in September

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Sharecast News | 11 Sep, 2015

Updated : 18:10

US consumer confidence declined sharply in September, figures released on Friday showed.

The University of Michigan index fell to 85.7 in September from 91.9 in the previous month, falling short of analysts' expectations for a 91.1 reading.

The report comes amid global market turbulence caused by concerns about the slowdown in China.

"As we explained in our data preview, other measures of confidence had already fallen sharply in response to the recent turmoil in global stock markets, so there was a good chance the University of Michigan measure would follow suit," said Paul Ashworth, chief US economist at Capital Economics.

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