September 2026 University of Michigan Survey of Consumers Declines to 47.8

The latest University of Michigan Survey of Consumers points to some increasingly cautious consumers. September’s consumer sentiment reading fell to 47.8%, suggesting that households are becoming more pessimistic about economic conditions.

That matters because economic behavior and social behavior are closely connected. When consumers feel less confident about the economy, they may become more cautious about spending, making major purchases or visiting retailers. Over time, that could affect sales and other areas of the economy.

Recent economic data have produced some mixed signals, and the decline in sentiment adds another piece to the picture. The important question is whether this is a temporary change or the beginning of a broader shift in consumer behavior. 

Continued monitoring of consumer sentiment will help provide a clearer view of where the economy may be heading. It can impact business and sales among other things because much of the economy is tied to consumer spending (sentiment and spending habits)

University of Michigan Surveys of Consumers: Consumer Sentiment and Economic Expectations

• The University of Michigan Surveys of Consumers measure how households view current economic conditions and their expectations for the future.
• Key measures include consumer sentiment, current economic conditions, and consumer expectations, providing an important indicator of household confidence.

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  The surveys also track inflation expectations, personal finances, business conditions, unemployment, interest rates, housing, vehicles, and household purchasing conditions.
• Preliminary September 2026 data show consumer sentiment at 47.8, down from 51.7 in August and 55.1 a year earlier.
• The survey is useful for understanding consumer behavior because expectations about prices, income, employment, and economic conditions can influence spending and other household decisions.

University of Michigan, Institute for Social Research. (2026). Surveys of consumers. https://www.sca.isr.umich.edu/