US consumer expectations to decline due to weakening housing market

09/18/06 - ING Financial Markets

LONDON, September 18 (newratings.com) - Analysts at ING Financial Markets say that US consumer expectations are likely to decline again on account of the weakening housing market.

In a research note published this morning, the analysts mention that the preliminary reading for the University of Michigan consumer sentiment rose to 84.4 in September from 82.0 in August. Consumer expectations series jumped to 77.1 in September from 68.0 in the previous month, probably reflecting a decline in energy prices, the analysts say. ING Financial Markets adds, however, that the housing market downturn seems to be intensifying.