10/1/2021, 4:00 PM (Source: TeleTrader)
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US consumer confidence surges in September

Consumer confidence in the United States jumped by 3.6% on a monthly basis in September, a report by the University of Michigan said on Friday. The Index of Consumer Sentiment came in at 72.8, still down 9.5% from September 2020.

The Current Economic Conditions Index was at 80.1, marking a 2% monthly increase and an 8.8% yearly decline. Meanwhile, the Index of Consumer Expectations climbed 4.6% compared to August 2021 to reach 68.1. The figure was still down 9.9% on the year.

"Consumer sentiment edged upward in late September, although the overall gain still meant the continuation of depressed optimism, initially sparked by the Delta variant and supported by persistent inflation and unfavorable long-term prospects for the national economy," Richard Curtin, the survey of consumers chief economist, commented.

Baha Breaking the News (BBN) / BU