Consumer Confidence and Jobs Outlook Rebound in September
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Despite continuing economic uncertainty, consumer confidence rose more than expected in September, reversing a decline in August. The Confidence Index now stands at 70.3, up from 61.3 in August, and higher than economist expectations of 63.1.
Says Lynn Franco, Director of Economic Indicators at The Conference Board said "Consumers were more positive in their assessment of current conditions, in particular the job market, and considerably more optimistic about the short-term outlook for business conditions, employment and their financial situation."
Consumers claiming business conditions are "good" edged up to 15.5 percent from 15.3 percent, while those saying business conditions are "bad" declined to 33.3 percent from 34.3 percent.
Consumers' assessment of the labor market was also more upbeat. Those stating jobs are "plentiful" rose to 8.3 percent from 7.2 percent, while those claiming jobs are "hard to get" edged down to 39.9 percent from 40.6 percent.
Those expecting business conditions to improve over the next six months increased to 18.2 percent from 16.7 percent, while those anticipating business conditions to worsen decreased to 13.8 percent from 17.6 percent.
Consumers' outlook for the labor market was also more favorable. Those expecting more jobs in the months ahead increased to 18.5 percent from 15.8 percent, while those anticipating fewer jobs declined to 18.5 percent from 23.7 percent.
The proportion of consumers expecting an increase in their incomes edged up to 16.3 percent from 16.0 percent.
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Says Lynn Franco, Director of Economic Indicators at The Conference Board said "Consumers were more positive in their assessment of current conditions, in particular the job market, and considerably more optimistic about the short-term outlook for business conditions, employment and their financial situation."
Consumers claiming business conditions are "good" edged up to 15.5 percent from 15.3 percent, while those saying business conditions are "bad" declined to 33.3 percent from 34.3 percent.
Consumers' assessment of the labor market was also more upbeat. Those stating jobs are "plentiful" rose to 8.3 percent from 7.2 percent, while those claiming jobs are "hard to get" edged down to 39.9 percent from 40.6 percent.
Those expecting business conditions to improve over the next six months increased to 18.2 percent from 16.7 percent, while those anticipating business conditions to worsen decreased to 13.8 percent from 17.6 percent.
Consumers' outlook for the labor market was also more favorable. Those expecting more jobs in the months ahead increased to 18.5 percent from 15.8 percent, while those anticipating fewer jobs declined to 18.5 percent from 23.7 percent.
The proportion of consumers expecting an increase in their incomes edged up to 16.3 percent from 16.0 percent.
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