United States: Consumer confidence increased modestly in September
September 29, 2015
The Conference Board consumer confidence index increased to 103.0 points in September from a revised 101.3 points in August (previously reported: 101.5 points). September’s result overshot market expectations of 96.0 points and pushes the index to the highest point in eight months.
September’s modest increase in confidence was driven by an improvement in consumers’ sentiment regarding current economic conditions. Sentiment in terms of job market opportunities was mixed. Meanwhile, consumers’ expectations on conditions in the next six months were slightly weaker.
The director of the Board explained that, “consumer confidence increased moderately in September, following August’s sharp rebound. Consumers’ more positive assessment of current conditions fueled this month’s increase. Consumers’ expectations for the short-term outlook, however, remained relatively flat. Thus, while consumers view current economic conditions more favorably, they do not foresee growth accelerating in the months ahead.”
Author: Carl Kelly, Economist