(Bloomberg) -- Consumer sentiment declined in September to the lowest level in a year as Americans anticipated a weaker economy in the face of a global slowdown and turbulent financial markets.

The University of Michigan’s preliminary index dropped to 85.7 from an August reading of 91.9, the largest one-month decline since the end of 2012. Households were less upbeat than a few months earlier about future growth in employment and wages, while 73 percent of respondents reported hearing of negative economic developments.

Some 17 percent of respondents mentioned unfavorable news about equity markets in September, the highest share since the height of the last financial crisis in October 2008. At the same time, sustained improvement in the labor market and cheaper gasoline will help shore up attitudes, which will garner the attention of U.S. central bankers as they consider raising interest rates as soon as next week.