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UMich consumer sentiment holds steady

Sep 16, 2016, 19:33 IST

Customers carry shopping bags at the Newport Mall during Black Friday Sales on November 27, 2015 in Jersey City, New Jersey. It was expected that 135.8 million Americans would shop this Black Friday weekend, according to the National Retail Federation.(Kena Betancur/Getty

The University of Michigan's preliminary consumer sentiment index for September was 89.8, unchanged from the final August reading.

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According to Bloomberg, economists estimated that the index increased to 90.6.

The survey found that consumers believed that the economy would continue to improve modestly, but weren't as bullish about their income prospects and buying plans.

"Buying plans suffered from the perception that no additional price discounts would be offered," said Richard Curtin, the survey's chief economist, in the release.

The final August index unexpectedly fell, missing economists' expectations, as young people expressed worries about their personal finances.

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