Consumer Confidence Rebounds in September

The Conference Board’s Consumer Confidence Index® increased in September, following a sharp decline in August. The Index now stands at 101.8 (1985=100), up from 86.3 in August. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased from 85.8 to 98.5. The Expectations Index – based on consumers’ short-term outlook for income, business, and labor market conditions – increased from 86.6 in August to 104.0 this month. In a prepared statement, Lynn Franco, Senior Director of Economic Indicators at The Conference Board said, “Consumer Confidence increased sharply in September, after back-to-back monthly declines, but remains below pre-pandemic levels. A more favorable view of current business and labor market conditions, coupled with renewed optimism about the short-term outlook, helped spur this month’s rebound in confidence. Consumers also expressed greater optimism about their short-term financial prospects, which may help keep spending from slowing further in the months ahead.”