/ Source: Reuters
U.S. consumer sentiment worsened in September even more than economists had expected, a report showed Friday.
The University of Michigan's index of consumer sentiment dropped to 76.9 in September, from 89.1 in August, but remained unchanged from the preliminary reading in early September, according to sources who saw the subscription-only report.
A Reuters poll projected a reading of 78.0.
The survey's expectations component fell to 63.3 from 76.9 in August, while the index of current conditions dropped to 98.1 from 108.2 in August.
Confidence measures are used as an indicator of consumer spending, which makes up about two-thirds of overall U.S. economic activity and is used as a gauge of economic growth.
