US consumer confidence rises this month| MENAFN.COM

Sunday, 27 November 2022 07:00 GMT

US consumer confidence rises this month


(MENAFN) US consumer confidence went higher in September for the second month in a row, as shown by figures issued Tuesday by the New York-located international research group The Conference Board.

The Consumer Confidence Index has reached 108, surging from 103.6 last month.

"Consumer confidence improved in September for the second consecutive month supported in particular by jobs, wages, and declining gas prices," as stated by Lynn Franco, the senior director of financial indicators at The Conference Board.

"Concerns about inflation dissipated further in September -- prompted largely by declining prices at the gas pump -- and are now at their lowest level since the start of the year,” she also stated.

In the meantime, the current Situation Index, based on consumers’ assessment of present business and labor market conditions, surged to 149.6 from 145.3 last month.

The Outlooks Index, based on consumers’ short-term estimated for income, business, as well as labor market conditions, also jumped to 80.3 from 75.8.

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