Preliminary Results for September 2025
| Sep | Aug | Sep | M-M | Y-Y | |
| 2025 | 2025 | 2024 | Change | Change | |
| Index of Consumer Sentiment | 55.4 | 58.2 | 70.1 | -4.8% | -21.0% |
| Current Economic Conditions | 61.2 | 61.7 | 63.3 | -0.8% | -3.3% |
| Index of Consumer Expectations | 51.8 | 55.9 | 74.4 | -7.3% | -30.4% |
Read our August 15th special report, Trade Policy and Expected Consumer Spending
Next data release: Friday, September 26, 2025 for Final September data at 10am ET
Surveys of Consumers Director Joanne Hsu
Consumer sentiment moved down less than three index points in early September. This month’s easing in economic views was particularly strong among lower and middle income consumers. Buying conditions for durables improved, while all other index components fell. Consumers continue to note multiple vulnerabilities in the economy, with rising risks to business conditions, labor markets, and inflation. Likewise, consumers perceive risks to their pocketbooks as well; current and expected personal finances both eased about 8% this month. Trade policy remains highly salient to consumers, with about 60% of consumers providing unprompted comments about tariffs during interviews, little changed from last month. Still, sentiment remains above April and May 2025 readings, immediately after the initial announcement of reciprocal tariffs.
Year-ahead inflation expectations held steady at 4.8%, unchanged from August. Long-run inflation expectations moved up for the second straight month to 3.9% in September. This current reading is considerably lower than the 4.4% seen in April.
Year-ahead inflation expectations held steady at 4.8%, unchanged from August. Long-run inflation expectations moved up for the second straight month to 3.9% in September. This current reading is considerably lower than the 4.4% seen in April.