Conference Board Sept. Consumer Confidence Index Gains to 104.1

The consumer confidence index increased to 104.1 in September from a revised 101.8 last month, The Conference Board reported Tuesday.

The August index was originally reported as 101.1.

Economists polled by Thomson Reuters predicted a 99.0 reading for the index.

The present situation index grew to 128.5 from a revised 125.3, first reported as 123.0, while the expectations index gained to 87.8 from a revised 86.1, first reported as 86.4.

"Consumer confidence increased in September for a second consecutive month and is now at its highest level since the recession," said Lynn Franco, director of economic indicators for The Conference Board. "Consumers' assessment of present-day conditions improved, primarily the result of a more positive view of the labor market. Looking ahead, consumers are more upbeat about the short-term employment outlook, but somewhat neutral about business conditions and income prospects. Overall, consumers continue to rate current conditions favorably and foresee moderate economic expansion in the months ahead."

Business conditions were called "good" by 27.4% of respondents in September, down from 30.3% of respondents in August. Those saying conditions are "bad" fell to 16.2% from 18.2%.

The percentage of consumers expecting a pickup in business conditions in the next half year slid to 16.5% from 17.6%, while 10.2% said they expect conditions to worsen, off from 11.4% in the prior month.

On the jobs front, those who believe jobs are "plentiful" rose to 27.9% in September from 26.8% in August, while the number saying jobs are "hard to get" declined to 21.6% from 22.8%. The respondents who see fewer jobs becoming available in a half year, dipped to 17.0% from 17.5%. Those expecting more jobs to become available increased to 15.1% from 14.4%, The Conference Board reported.

The consumer confidence survey is based on a probability design random sample by the Nielsen Company.

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