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C+CT

U.S. consumer confidence at 18-year high

September 25, 2018

Consumer confidence has risen to an 18-year high, according to a Conference Board report released Tuesday.

The index stands at 138.4 for September, up from 134.7 in August.

“After a considerable improvement in August, consumer confidence increased further in September and hovers at an 18-year high,” said Lynn Franco, director of economic indicators at The Conference Board. “The September reading is not far from the all-time high of 144.7 reached in 2000. Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth. The expectations index surged in September, suggesting solid economic growth exceeding 3 percent for the remainder of the year. These historically high confidence levels should continue to support healthy consumer spending and should be welcome news for retailers as they begin gearing up for the holiday season.” 

 

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The percentage of consumers who say they believe that business conditions will be improving over the next six months increased, from 24.4 percent to 27.6 percent, the report says. And those expecting conditions to worsen over that same period declined, from 9.9 percent to 8 percent.

The percentage of those who anticipate more jobs over the coming months rose, from 21.5 percent to 22.5 percent, while those anticipating fewer jobs declined, from 13.2 percent to 11 percent.

By Edmund Mander

Director, Editor-In-Chief/SCT