U.S. consumer confidence index likely rose in September
The U.S. Conference Board’s index of consumer sentiment for the month of September is set to release tomorrow. According to a Barclays’ research report, the consumer sentiment index is expected to have risen to 90 in September, in line with the rebound in the University of Michigan’s consumer sentiment index. Gradual, yet consistent rebounds in the labor markets have made consumers more positive about their near-term income prospects.
“However, with pandemic assistance to households now reduced, we see some downside risk to consumers’ assessments of future incomes”, stated Barclays.
Meanwhile, wholesale inventories are expected to have grown further 0.4 percent sequentially in September, as global and domestic manufacturers work to replenish stocks drawn down with the recent sharp rise of goods demand.