September Consumers Confidence Jumps on Upbeat on Jobs Outlook
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A Reuters/University of Michigan U.S. consumer sentiment survey showed a surprising jump in confidence this month. In the preliminary reading for September the index increased to 79.2, blowing the doors off expectations of a drop to 74. In August, the consumer survey reported a reading of 74.3.
Surprisingly, only 12 percent of those surveyed said they expected the unemployment rate to rise. This was much lower than August survey results that showed 25 percent expect a rise in unemployment. The September reading related to unemployment expectations is the lowest on record since 1966, according to reports from Reuters.
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Surprisingly, only 12 percent of those surveyed said they expected the unemployment rate to rise. This was much lower than August survey results that showed 25 percent expect a rise in unemployment. The September reading related to unemployment expectations is the lowest on record since 1966, according to reports from Reuters.
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