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U.S. consumer sentiment falls drastically

Xinhua, September 12, 2015 Adjust font size:

U.S. consumer sentiment for early September fell to the lowest level in a year, affected by lower expectation of domestic economy, the Thomson Reuters/University of Michigan index of consumer sentiment showed Friday.

The preliminary reading of the consumer sentiment for September went down from 91.9 in August to 85.7 at present, the lowest level since September 2014.

"Consumers (who) still anticipate a weaker domestic economy due to the global slowdown are less optimistic about future growth in jobs and wages than they were a few months ago," said survey director Richard Curtin.

The sub-index of current conditions, reflecting Americans' perceptions of their financial situation and whether they consider it a good time to buy big-ticket items like cars, fell to 100.3 from 105.1 last month.

The sub-index gauging consumer expectations for six months from now, which more closely projects the direction of consumer spending, decreased to 76.4 from 83.4 in August. Enditem