U.S. consumer sentiment declined for the second consecutive month in September 

However, there was a slight improvement in the economic outlook among households 

Household expectations for near-term inflation dropped to their lowest point in over a year 

The University of Michigan's preliminary Consumer Sentiment Index for September was 67.7, down from 69.5 in August 

This reading was below the economist consensus forecast of 69.1 

The survey indicated a decrease in the barometer of current economic conditions 

On the positive side, consumer expectations for the future showed a slight increase 

Both short-term and long-term economic expectations saw modest improvements 

Survey director Joanne Hsu noted that consumers remained cautious about the overall economic trajectory 

One-year inflation expectations reached a low of 3.1%, the lowest since March 2021, while the five-year inflation outlook dropped to 2.7%, a one-year low from the previous 3.0%