CONSUMER CONFIDENCE PLUNGES IN SEPTEMBER

University of Michigan Wolverines head football coach Brady HokeAPMichigan head coach Brady Hoke reacts on the sideline after a Michigan miscue in the fourth quarter of an NCAA college football game with Notre Dame, in Ann Arbor, Mich., Saturday, Sept. 7, 2013.

LATEST:The
preliminary results from the University of Michigan’s September consumer confidence survey are out.
The headline index dropped to 76.8 from August’s 82.1 reading.

Economists predicted a tick down to 82.0.

The economic conditions sub-index fell to 91.8 from 95.2, while the economic outlook sub-index fell to 67.2 from 73.7.

Inflation expectations one year ahead rose to 3.2% from 3.0%, while inflation expectations five years ahead edged up to 3.0% from 2.9%.

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