The Conference Board said its Consumer Confidence Index improved in September after gaining in August, and now rates the strongest since the recession.
The index now stands at 104.1 up from 101.8 in August. Numbers over 100 signals relatively strong faith in economic prospects.
The Present Situation Index rose from 125.3 to 128.5, while the Expectations Index advanced from 86.1 last month to 87.8.
“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 at 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.”