Conference Board News Release (09/29/15)
The Conference Board Consumer Confidence Index, which had increased in August, improved moderately in September. The index now stands at 103.0, up from 101.3 in August. The Present Situation Index increased from 115.8 last month to 121.1 in September, while the Expectations Index edged down from 91.6 in August to 91.0 in September.
“Consumer confidence increased moderately in September, following August’s sharp rebound,” says Lynn Franco, director of economic indicators at the Conference Board. “Consumers’ more positive assessment of current conditions fueled this month’s increase, and drove the Present Situation Index to an eight-year high. Consumers’ expectations for the short-term outlook, however, remained relatively flat, although there was a modest improvement in income expectations. Thus, while consumers view current economic conditions more favorably, they do not foresee growth accelerating in the months ahead.”
Consumers were somewhat mixed about the job market. Those stating jobs are “plentiful” increased from 22.1% to 25.1%, while those claiming jobs are “hard to get” also rose from 21.7% to 24.3%.