US consumer confidence rose to 101.8, above expectations

 

 

The Conference Board’s U.S. consumer confidence rose to 101.8 in September, from 86.3, beat expectation by 90.0. The current situation index increased from 85.8 to 98.5. The expectation index fell from 86.6 to 104.0.

“Consumer confidence rose sharply in September, after consecutive monthly declines, but remains below pre-pandemic levels,” said 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 near-term outlook, helped boost confidence rebound this month. Consumers have also expressed greater optimism about their near-term financial outlook, which could help prevent spending from slowing further in the coming months.

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