Consumer Confidence Up Again in September

NEW YORK – Consumer confidence increased in September by 1.7 points, following a sharp rebound in August. The Consumer Confidence Index reached 103.0 (1985=100), which is up from a buoyant 101.3 in August, according to the surveyor, Conference Board.

"Consumers' more positive assessment of current conditions fueled this month's increase," says Lynn Franco, director of economic indicators at The Conference Board.

Consumers' appraisal of current conditions was more positive in September. Those saying business conditions are "good" increased from 23.7 percent to 28.0 percent, while those claiming business conditions are "bad" declined modestly from 17.8 percent to 16.7 percent. Consumers were somewhat mixed about the job market. Those stating jobs are "plentiful" increased from 22.1 percent to 25.1 percent, however those claiming jobs are "hard to get" also rose from 21.7 percent to 24.3 percent.

Consumers' optimism about the short-term outlook was little changed in September. The percentage of consumers expecting business conditions to improve over the next six months increased from 16.6 percent to 17.9 percent, but those expecting business conditions to worsen also increased, from 9.1 percent to 10.3 percent.