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CONSUMER CONFIDENCE EDGES UP
Consumer confidence continued to advance in September, The Conference Board reports today.
The Conference Board's Consumer Confidence Index now stands at 128.6 (1985=100), up one point from last month's reading of 127.6.
The two major components of the Index moved in opposite directions, however, The Present Situation Index declined from 156.1 in August to 155.5 in September. But the Expectations Index rose two points to 110.7 in September, up from 108.7 in August.
The Consumer Confidence Survey covers a representative sample of 5,000 U.S. households. The monthly survey is conducted for The Conference Board by NFO Research, Inc., of Greenwich, Connecticut.
The proportion of consumers rating present business conditions as “good,” rose to 39 percent, up from about 38 percent in August. The percentage believing that jobs are difficult to find fell slightly, from 17 percent in August to 16.6 percent in September.
Consumers see the economy continuing to gain strength over the next six months. Some 19.5 percent predict the pace of small business will improve, up from 18.4 percent in August. About 17.5 percent look for jobs to become more plentiful, up marginally from 17 percent in August. Some 26.8 percent look for their family's income to rise, up from 25.6 percent in August.
“With confidence stabilizing at levels not seen in nearly three decades, the economy should continue on a steady upward path,” says Lynn Franco, Associate Director of The Conference Board's Consumer Research Center. “The key component to watch is the Expectations Index, which has been an accurate precitor of future business activity.”
Conference Board
U.S. Consumer Confidence
Sep 97(p) Aug 97-R Jul 97 Jun 97 Consumer Confidence 128.6 127.6 126.3 129.9 Present Situation 155.5 156.1 154.5 157.1 Expectations 110.7 108.7 107.6 111.7 May 97 Apr 97 Mar 97 Sep 96 Consumer Confidence 127.9 118.5 118.5 111.8 Present Situation 152.6 141.6 144.8 128.5 Expectations 111.4 103.2 101.1 100.7
(p)–Preliminary.
(r)–Revised.
September 30, 1997 The Conference Board
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