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Bloomberg reports that “the Thomson Reuters/University of Michigan preliminary index of consumer sentiment fell to 66.6 from 68.9 in August ... Flagging optimism with unemployment close to a 26-year high may increase the risk consumers will cut back on their purchases, which account for 70 percent of the economy.”

However, “The University of Michigan’s gauge of current conditions, which reflects Americans’ perceptions of their financial situation and whether it is a good time to buy big-ticket items such as cars, rose to 78.4 from 78.3 in the prior month” - a marginal increase at best that hardly heralds a robust recovery.
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