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Consumer Confidence Highest in Seven Months

The index now stands at 70.3, higher than economists' consensus expectations of 63 for September.

Consumer confidence is on the rise again as consumers were more optimistic this month on the jobs front.

 

That optimism sent the The Conference Board’s Consumer Confidence Index up nine points to 70.3 to its highest level since February. Both components of the Index rose. The expectations portion rose to 83.7 from 71.1, while the present situations component increased to 50.2 from 46.5 last month.

 

Lynn Franco, director of economic indicators at The Conference Board, said, “Consumers were more positive in their assessment of current conditions, in particular the job market, and considerably more optimistic about the short-term outlook for business conditions, employment and their financial situation. Despite continuing economic uncertainty, consumers are slightly more optimistic than they have been in several months.”

 

Respondents who said they expected business conditions to improve over the next six months rose to 18.2 percent form 16.7 percent. In addition, 18.5 percent said they expect more jobs ahead, up from 15.8 percent.