Consumer confidence continued to rise in September, after a big increase in August. Currently, consumers are quite optimistic about both the current situation and the near-term outlook.
The Consumer Confidence Index, reported by the Conference Board, increased to 138.4 in September, from 134.7 in August. It has surpassed the 2007 peak of 111.9 and spiked to the highest level since October 2000. Both the present situation index and the expectations index rose in September. The present situation index rose by 0.3 point from 172.8 to 173.1 and the expectations index jumped by 6.0 points from 109.3 to 115.3. The September increase in consumer confidence was mainly generated by an increase in the expectations index.