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- U.S. consumer confidence improves much more than expected in September
U.S. consumer confidence improves much more than expected in September
The Conference
Board announced on Tuesday its U.S. consumer confidence jumped 15.5 points to 101.8
in September from 86.3 in August.
Economists had
expected consumer confidence to come in at 89.5.
August’s
consumer confidence reading was revised up from originally estimated 84.8.
The survey
showed that the expectations index climbed from 86.6 last month to 104.0 this
month. Meanwhile, the present situation index increased from 85.8 in August to 98.5.
“Consumer
Confidence increased sharply in September, after back-to-back monthly declines,
but remains below pre-pandemic levels,” noted Lynn Franco, Senior Director of
Economic Indicators at The Conference Board. “A more favorable view of current
business and labor market conditions, coupled with renewed optimism about the
short-term outlook, helped spur this month’s rebound in confidence. Consumers
also expressed greater optimism about their short-term financial prospects,
which may help keep spending from slowing further in the months ahead.”
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