U.S. consumer confidence rebounded most in 17 years in September
The Conference Board’s consumer confidence index increased 15.5 points to a reading of 101.8 this month. That was the largest gain since April 2003. Economists polled by Reuters had forecast the index edging up to a reading of 89.5 in September. The index was at 132.6 in February.
The survey’s present situation measure, based on consumers’ assessment of current business and labor market conditions, increased to a reading of 98.5 from 85.8 in August. The expectations index based on consumers’ short-term outlook for income, business and labor market conditions jumped to 104.0 from a reading of 86.6 in August. ■