Americans expect job conditions to improve
Consumer confidence hit its highest level in nine years, right about when the last recession began, according to the Consumer Confidence Survey conducted by The Conference Board by Nielsen, a provider of information and analytics around what consumers buy and watch.
Consumer confidence increased in September to 104.1, up from 101.8 in August. The Present Situation Index increased from 125.3 to 128.5 and the Expectations Index both increased from 86.1 to 87.8.
In 1985, the index was set to 100, representing the index’s benchmark. This value is adjusted monthly based on results of a household survey of consumers’ opinions on current conditions and future economic expectations. Opinions on current conditions make up 40% of the index, while expectations of future conditions make up 60%.
“Consumer confidence increased in September for a second consecutive month and is now at its highest level since the recession,” said Lynn Franco, The Conference Board director of economic indicators. “Consumers’ assessment of present-day conditions improved, primarily the result of a more positive view of the labor market.” [read article]
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