U.S. consumer sentiment fell -4.8% MoM and -21.0% YoY in September 2025, reflecting broad-based weakening in economic perceptions, though levels remain above April–May lows.

• The Index of Consumer Sentiment declined to 55.4, down from 58.2 in August and 70.1 a year earlier, with the drop concentrated among lower- and middle-income households.

• The Current Economic Conditions index eased to 61.2 (-0.8% MoM; -3.3% YoY), with consumers reporting weaker current and expected personal finances (both down about -8%).

• The Index of Consumer Expectations dropped sharply to 51.8 (-7.3% MoM; -30.4% YoY), signaling rising concerns about future business conditions, labor markets, and inflation.

• Buying conditions for durable goods improved modestly, but all other major index components posted declines.

• Trade policy remained a key concern, with around 60% of respondents mentioning tariffs unprompted.

• Year-ahead inflation expectations held steady at 4.8%, while long-run expectations ticked up to 3.9% from 3.5% in August, still well below April’s 4.4% reading.