The Conference Board Consumer Confidence Index increased in September, following improvement in August. The Index now stands at 138.4, up from 134.7 in August, and is approaching the 18-year high of 144.7 reached in 2000, according to the group’s most recently monthly data.
Consumers’ outlook on current conditions remains high, bolstered by a strong economy and robust job growth, according to Lynn Franco, director of economic indicators at The Conference Board. The group’s Expectations Index surged in September, suggesting growth in excess of 3 percent for the remainder of the year, she added.
“After a considerable improvement in August, Consumer Confidence increased further in September and hovers at an 18-year high,” Franco said in announcing the results September 25. “… 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.”