US consumer confidence went up in September for the second consecutive month, according to data released Tuesday by the New York-based global research group The Conference Board.
The Consumer Confidence Index now stands at 108, up from 103.6 in August.
“Consumer confidence improved in September for the second consecutive month supported in particular by jobs, wages, and declining gas prices,” said Lynn Franco, the senior director of economic indicators at The Conference Board.
“Concerns about inflation dissipated further in September — prompted largely by declining prices at the gas pump — and are now at their lowest level since the start of the year,” she added.
Meanwhile, the Present Situation Index, based on consumers’ assessment of current business and labor market conditions, increased to 149.6 from 145.3 last month.
The Expectations Index, based on consumers’ short-term outlook for income, business, and labor market conditions, also rose to 80.3 from 75.8.
Source: Anadolu Agency