Wednesday, September 28, 2016

Confidence Finally Gets Past the Recession

Maybe the last lingering effects of the recession are finally over. The Conference Board’s consumer-confidence index rose in September to its highest level in nine years, a sign that American households have finally escaped the recession’s long shadow.

The  index increased to a seasonally adjusted 104.1 in September, up from 101.8 in August. That was its highest level since August 2007, the month that marked the start of the financial crisis.

The biggest changes concerned jobs. The report noted that consumers are  feeling better about employment prospects: The proportion of those expecting more jobs in the upcoming months rose to 15.1 percent from 14.4 percent, and the proportion of those expecting less jobs dropped to 17.0 percent from 17.5 percent. Moreover, those expecting a drop in incomes to decreased to 10.3 percent from 11.0 percent.

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