Consumer Confidence: Another Sharp Increase

Bottom Line: Consumer confidence jumped sharply again, led by a surge in the expectations index this month. Despite continued volatility in trade policy and political headlines, consumers' optimism about business conditions, the labor market and their own income prospects rose sharply again. The overall index is now within striking distance of the record highs set back in 2000. Consumer Confidence ROSE by 3.7 points in September to 138.4, compared with market expectations for a decline to 132.1. The index is now 14.8% ABOVE its year ago level. Present Situation Index ROSE by 0.3 points to 173.1. The index is 17.8% ABOVE its year ago level. The Expectations Index ROSE by 6.0 points to 115.3. The index is 11.9% ABOVE its year ago level. The labor differential, the percentage of respondents who said jobs are “hard to get” from the percentage who said jobs are “plentiful” , moved higher by 2.3 points to 32.5.