Consumer sentiment: Edges higher led by increase in economic conditions

• University of Michigan September Consumer Sentiment: 72.8 vs. 71.0 consensus and 70.3 prior.
• Current Economic Conditions: 80.1 vs. 78.5 prior
• Index of Consumer Expectations: 68.1 vs. 65.1 prior
• The proportion of households who expected to be better off financially in a year fell to 30% in September, the lowest level since August 2016, and favorable financial expectations over the next five years fell to 44% in September, the lowest level in seven years.
• Annual gains in household incomes were just 1.5% in September, well below the expected 4.6% inflation rate.
• Real income gains were expected by just 18% of all households in September, the lowest reading since February 2015.