Yahoo Finance U.S. Consumer Confidence Rises to 18-Year High in September
Investing.com - Confidence among U.S consumers rose to an 18-year high in September, paving the way for a robust holiday season.
The Conference Board's index of consumer confidence rose to 138.4, compared to a reading of 132.2 forecast by economists, according to data released on Tuesday. The measure had risen to a revised 134.7 in the previous month.
The index looks at U.S. consumer’s views of current economic conditions and their expectations for the next six months. The index is closely watched by economists because consumer spending accounts for about 70% of U.S. economic activity.
“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," said Lynn Franco, director of economic indicators at the Conference Board.
"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," she added.
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