Consumer Confidence Beats Expectations, At Highest Level in Nearly 18 Years Consumer Confidence Beats Expectations, At Highest Level in Nearly 18 Years – NTK Network

Consumer Confidence Beats Expectations, At Highest Level in Nearly 18 Years

According to the Consumer Board's index, confidence rose from 134.7 in August to 138.4 in September beating economists' expectations.

By NTK Staff | 09.25.2018 @2:00pm
Consumer Confidence Beats Expectations, At Highest Level in Nearly 18 Years

The consumer confidence index rose from 134.7 in August to 138.4 in September, which is the index’s highest level in almost 18 years.

The survey, which “measures Americans’ sentiment on current economic conditions and prospects for the next six months, including business and labor market conditions,” according to CNBC.

“Consumers’ assessment of current conditions remains extremely favorable, bolstered by a strong economy and robust job growth,” Lynn Franco, the director of economic indicators at the Conference Board, said. “These historically high confidence levels should continue to support healthy consumer spending, and should be welcome news for retailers as they begin gearing up for the holiday season.”

CNBC reported:

“The Conference Board also said optimism about the short-term outlook improved considerably this month, with 27.6 percent of consumers expecting business conditions to improve over the next six months; that’s up from 24.4 percent in August. Consumers expecting business conditions to worsen, meanwhile, dropped to 8 percent from 9.9 percent.”

The increase in consumer confidence also beat the expectations of economists, who predicted an index dip in September to 132.

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